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B.R.R. Guardian Modaraba’s financial results for the year ended June 30, 2011

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by September 30, 2011 Financial Results

Karachi: We are pleased to inform you that the Board o f Directors of B.R.R. Investment (Pvt) Limited Manager of B.R.R Guardian Modaraba (BRR) in their meeting held on 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. 0.25 per Modaraba Certificate i.e. 2.50%.

(ii) BONUS ISSUES   NIL

AND/OR

(iii) RIGHT SHARES NIL

AND/OR

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION – NIL

AND/OR

(V) ANY OTHER PRICE SENSITIVE INFORMATION  NIL

The Financial Results of BRRGM is enclosed.

The Annual Review Meeting of B.R.R Guardian Modaraba will be held on October 24, 2011 at 3:00 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, 2110 both days inclusive) the Transfers received at the Registrar Office F.D. Registrar Services (SMC-Pvt) Ltd at 108, 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 transfers.

B.R.R. GUARDIAN MODARABA PROFiT AND LOSS ACCOUNT FOR THE YEAR ENDED JUNE 30,2011

 

JUNE 30,

2011

JUNE 30,

2010

NOTE

RUPEES

INCOME
Lease rentals 116,554,310 189,658,507
Income on musharaka and murabaha finance 239,865,475  232,387,615
———–  ———–
Return of investments 25 67,870,137 101,677,248
Share of loss from associate (11,242,846)
Markup on bank balances 10,792,543 9,539,932
Rental income 26 82,238,693 89,087,427
Profit on disposal of fixed assets 62,417,552
Other  income 27 35,253,783 20,311,123
 ———– ———–
614,992,493 631,419,004
EXPENSE
Amortisation on jeased assets 53,301,501 170,881,382
Impairment loss 28 33,378,720 149,919,855
Operating expenses 29 109,303,354 102,280,509
Financial Charge 30 354,882,931 351,725,285
Provision against dooubtful rceivable – net 31 9,193,714 17,845,695
Loss on revalution of investmens – held for trading 7,650,203  –
567,710,423 792,852,735
 ———– ———–
47,282,070 (161,233,731)
Modaraba management company’s fee 32  4,728,207
Provision for Workers’ Welfare Fund 33 851,077
———–  ———–
Profit/(loss) before taxation 41,702,786 (161,233,731)
Taxation 34
———– ———–
Profit/(loss) for the year 41,402,86 (161,233,731)
———–  ———–
Earning/(loss) per certificate – basic and diluted 35 0.53  (2.07)

 

The annexed notes from 1 to 45 form an intergral part of these financial statement

For more information, contact:
B.R.R. Guardian Modaraba
1500-A Saima Trade Towers
I.I Chundrigar Road,
Karachi- 74000
Tel: 92 (21) 111 329 663, 92 (21) 2271874-14
Fax: 92(21) 227191213
Email: brr@firstdawood.com

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