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Monday, August 21st, 2017

Saudi Pak Leasing Company Limited’s financial results for the half year ended December 31, 2012

Be First!

Karachi, March 27, 2013 (PPI-OT): We have to inform you that the Board of Directors of the Company in its meeting held on Tuesday, March 26, 2013 and Wednesday, March 27, 2013, recommended the following for half year ended December 31, 2012.

Cash Dividend                              Nil

Bonus Shares                               Nil

Right Shares                               Nil

Any Other Entitlement/ Corporate Action    Nil

The financial result of the company for the aforesaid period is enclosed herewith.

Condensed Interim Profit and Loss Account (Un-Audited) for the Six Months and Three Months Period Ended 31 December 2012

Six month period ended

Three months period ended

31 December

31 December

Note

2012

2011

2012

2011

Rupees

Income
Finance leases

24

20,251,246

19,416,690

8,939,878

9,632,382

Operating leases

2,051,336

2,168,643

1,357,020

687,993

———–

———–

———-

———–

22,302,582

21,585,333

10,296,898

10,320,375

Other operating income/ (loss)-net

25

87,012,379

(15,748,761)

1,715,236

(16,036,136)

———–

———–

———-

———–

Total Income

109,314,961

5,836,572

12,012,134

(5,715,761)

Expenses
Finance cost

26

(43,753,282)

(86,546,170)

(23,980,034)

(42,427,534)

Administrative and other operating expenses

(40,990,972)

(42,648,670)

(22,853,825)

(25,052,743)

Amount written off directly against loans and
Lease receivables

(10,566,253)

(10,566,253)

Direct cost of operating leases

(12,741,145)

(6,522,231)

(6,294,964)

(3,274,621)

———–

———–

———-

———–

(97,485,399)

(146,283,324)

(53,128,823)

(81,321,151)

———–

———–

———-

———–

Operating profit/ (loss) before provisions

11,829,562

(140,446,752)

(41,116,689)

(87,036,912)

Reversal/ (provision) for doubtful leases, loans
and other receivables

24,610,047

(279,496,668)

(23,946,268)

(230,840,153)

Reversal/ (impairment) on available-for-sale
investments

(20,257,168)

(742,235)

(16,188,050)

Impairment on investment properties

(3,439,809)

(3,439,809)

———–

———–

———-

———–

21,170,238

(299,753,836)

(28,128,312)

(247,028,203)

———–

———–

———-

———–

Profit/ (loss) before taxation

32,999,800

(299,200,588)

(69,245,001)

(334,065,115)

Taxation
– Current

1,752,314

2,421,707

252,314

1,178,400

– Prior year

– Deferred

(3,775,078)

214,608,949

(3,775,078)

214,608,949

———–

———–

———-

———–

(2,022,764)

217,030,656

(3,522,764)

215,787,349

———–

———–

———-

———–

Profit/ (loss) after taxation

35,022,564

(657,231,244)

(65,722,237)

(549,852,464)

———–

———–

———-

———–

Earnings/ (loss) per share
-basic and diluted

28

0.78

(14.55)

(1.46)

(12.18)

The annexed notes 1 to 31 form an integral part of this condensed interim financial information.

For more information, contact:
Saudi Pak Leasing Company Limited
6th Floor, Lakson Square,
Building # 1, Sarwar Shaheed Road,
Saddar, Karachi- 74200, Pakistan
Ph: 111-888-999, (021) 5655181-5, 5655215-9
Fax: (021) 5210607-9

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