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Grays Leasing Limited’s financial results for the year ended 30 June 2011

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by September 29, 2011 Financial Results

Karachi: We have to inform you that Board of Directors of our company in their meeting held on September 29, 2011 at 11:30 a.m. at branch office of the Company located at Small Industries Estate, Sialkot recommended the following:

i) Cash Dividend

Nil

ii) Bonus Shares

Nil

iii) Right Shares

Nil

The financial results of the company are as follows:

 

Year Ended

30 June 2011

Year Ended

30 June 2010

Rupees

Rupees

Revenue
Income from lease financing 25,729,139  63,118,798
Other income 4,880,529 3,300,982
———- ———–
30,609,668 66,419,780
Expenditure
Administrative and other operating expenses  (20,627,605) (27,767,086)
Financial and other charges  (28,124,656) (56,135,668)
Allowance for potential lease losses  (15,493,283)  (100,748,565)
Lease contract receivables written off (8,869,947)
———- ———–
 (73,115,491) (184,651,319)
———-  ———–
Loss before Taxation  (42,505,823)  (118,231,539)
Provision for Taxation
Taxation
Current (1,664,349) (1,429,641)
Deferred  – 18,182,844
 ———-  ———–
(1,664,349) 16,753,203
———- ———–
Loss after Taxation (44,170,172) (101,478,336)
———- ———–
Basic Earnings per Share (Rupees) (2.05) (4.72)

 

Annual General Meeting of the company will be held on October 27, 2010 at 12:15 pm at registered office 701-A, City Towers, Main Boulevard, Gulberg II Lahore.

The share transfer books of the company will be closed from 21-10-2011 to 27-10-2011 (both days inclusive). The transfers received at our Shares Registrar, M/s. Hassan Farooq Associates (Pvt.) Limited, H F House., 7-G, Mushtaq Ahmed Gormani Road, Gulberg II Lahore at the close of business on October 20, 2011 will be treated in time for the purpose of above entitlement to the transferee.

For more information, contact:
Muhammad Adil Munir
Company Secretary
Grays Leasing Limited
701-A, 7th Floor City Towers,
Main Boulevard,
Gulberg II, Lahore – 54660, Pakistan.
Ph: (+92-42) 35770382,
Fax: (+92-42) 35770389
E-mail: info@graysleasing.com

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