KARACHI: The Board of Directors of Arif Habib Limited (AHL) on Monday announced the financial results for the year ended June 30, 2021, with the company posting a profit of Rs2.084 billion, its highest-ever profit in history.
The BOD declared a final cash dividend of Rs10 per share i.e. 100 percent, and bonus 10 percent (i.e. 10 shares for every 100 shares held) for the year 2021.
The company has also recorded its highest-ever revenues in history in the brokerage, investment banking and money markets division; all combined have taken up AHL’s core income by Rs1,398 million.
The brokerage division witnessed an increase of 132 percent in revenue against the same period in the previous year.
Investment banking income increased massively by 633 percent from Rs155 million to Rs672 million.
This increase is attributable to successful completion of equity and debt IPOs.
The company’s investment portfolio has yielded healthy realized and unrealized revenue of Rs1,681 million against Rs228 million in the corresponding period.
Commenting on the results, Shahid Ali Habib, CEO, AHL, said that AHL’s growth momentum is outstanding and in line with our expectations.
The phenomenal increase in revenue has been due to stellar performance across all business divisions and high volumes in the market.
“We foresee similar brokerage and investment banking performance in coming year as the economy grows and focus on capital market development intensifies,” he added.
AHL, which led 8 of the 10 IPOs this year, has embarked upon expanding its footprint by establishing presence in other cities and increasing its client base both within Pakistan and abroad, which is expected to reap dividends by its shareholders in the future.
Copyright Business Recorder, 2021