AHL posts Rs365.911mn profit after tax

RECORDER REPORT

KARACHI: Arif Habib Limited (AHL) has posted Rs365.911 million as profit after tax for the year ended June 30, 2012 (FY12) as compared to after tax loss of Rs559.394 million recorded in FY11.

The company’s earning per share stood at Rs8.13 in the period under review against per share loss of Rs12.43 in the same period last year. The board of directors of the company in its meeting held here on Monday recommended a final cash dividend for the year ended June 30, 2012 at Rs3 per share i.e 30 percent. The BoD also recommended issuing bonus shares in the proportion of one share for every nine shares held i.e 11.111 percent.

According to the financial results sent to Karachi Stock Exchange, the company’s operating revenue increased to Rs173.941 million in FY12 against Rs107.139 million in FY11. The net capital gain on sale of investments increased to Rs255.598 million against Rs4.410 million while net gain on re-measurement of investments carried at fair value through profit or loss increased to Rs260.224 million against Rs12.353 million.

The company’s administrative expenses reduced to Rs209.551 million against Rs930.117 million and finance costs decreased to Rs185.803 million against Rs68.317 million. The company’s other operating incomes declined to Rs106.580 million against Rs312.638 million. The company posted Rs395.365 million as profit before taxation in FY12 against loss before taxation of Rs549.977 million in FY11.