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Crescent Standard Modaraba’s financial results for the year ended June 30, 2011

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by September 30, 2011 Financial Results

Karachi: We are please to inform you that the Board of Directors of B.R.R. Investments (Pvt.) Limited Manager of Crescent Standard Modaraba (CSM) in their meeting on held Friday, September 30, 2011 at 11:00 a.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi and recommended the following:

(i) Cash Dividend

It has been approved by the Board of Directors to issue cash dividend of Re. 0.12 per Modaraba Certificate i.e. 1.20%

(ii) Bonus Issue    Nil

(iii) Right Shares  Nil

And/or

(iv) Any other entitlement/ Corporation Action Nil

(v) Any other price sensitive information Nil

The Financial Results of CSM is enclosed.

The Annual Review Meeting of Crescent Standard Modaraba will be held on October 24, 2011 at 4:00 p.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi.

The Certificate Transfer Books of the Modaraba will be closed from October 18, 2011 to October 24, 2011 (both days inclusive) the Transfers received at the Registrar Office, F.D. Registrar Services (SMC-Pvt) Ltd at 1108, 11th Floor, Trade Centre I.I. Chundrigar Road, Karachi, at the close of business on October 17, 2011 will be treated in time for the purpose of above entitlement to the transferees.

Crescent Standard Modaraba Profit and Loss Account For the year ended June 30, 2011

 

June 30,

2011

June 30,

2010

Note

Rupees

Income
Income on musharaka and murabaha finance 7,064,824 3,979,451
Ijarah rentals 6,343,866 468,070
Income on short-term investments – net  20 472,699 7,002,800
Income on bank balances 2,180,808 2,035,047
Other income 780,046 42,611
————-  ————-
16,842,243 13,527,979
Expenditure
Depreciation on Ijarah assets  3,964,555  347,384
Administrative and operating expenses 21 5,242,346 5,827,627
Financial charges 23  1,937,293 1,615,609
 ————- ————-
11,144,194 7,790,620
 ————- ————-
 5,698,049 5,737,359
Modaraba management company’s fee 24  (569,805) (558,246)
Workers’ Welfare Fund 22 (102,565) (154,901)
————- ————-
Profit Before Taxation
Provision for taxation 25
 ————- ————-
Profit for the year 5,025,679 5,024,212
Other Comprehensive Income
Deficit on revaluation of
Available for sale investments  (104,875) (265,719)
————- ————-
Total Comprehensive Income for the year  4,920,804 4,758,493
 ————- ————-
Earnings per Certificate – Basic and Diluted 26 0.25  0.25

 

The annexed notes from 1 to 36 form an integral part of these financial statements.

For more information, contact:
Crescent Standard Modaraba
Chundrigar Road, 1500-A
Saima Trade Towers,
I.I. Chundrigar Road,
Karachi.
Pakistan
Tel: 92/21-11132-9663
URL: http://www.firstdawood.com/csm

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