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First Elite Capital Modaraba’s financial results for the half year ended December 31, 2012

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Karachi, February 28, 2013 (PPI-OT): We have to inform you that the Board of Director of Crescent Modaraba Management Company Limited, Manager of First Elite Capital Modaraba (FECM) in their meeting held at 02:30 P.M. on Wednesday, February 27, 2013 have considered and approved accounts of the Modaraba for the Half Year ended December 31, 2012.

The financial results of the Modaraba are as follows.

Half Year

Half Year

Quarter

Quarter

Ended

Ended

Ended

Ended

December

December

December

December

31, 2012

31, 2011

31, 2012

31, 2011

Rupees

Rupees

Rupees

Rupees

Total Income

27,607,546

26,966,646

14,433,593

13,818,361

———-

———-

———-

———-

Amortization of assets leased out

16,179,980

14,672,487

8,083,861

7,117,444

Administrative and general expenses

7,190,467

7,279,789

4,083,861

4,077,025

Financial Charges

7,086

9,370

3,182

6,972

———-

———-

———-

———-

23,377,533

21,961,646

12,126,981

11,201,441

———-

———-

———-

———-

Operating Profit

4,230,013

5,005,000

2,306,612

2,616,920

Management Fee

423,001

500,500

230,661

261,692

———-

———-

———-

———-

Profit before taxation

3,807,012

4,504,500

2,075,951

2,355,228

Taxation

———-

———-

———-

———-

Profit after taxation

3,807,012

4,504,500

2,075,951

2,355,228

———-

———-

———-

———-

Earnings per certificate-basic and diluted

0.34

0.40

0.18

0.21

For more information, contact:
Company Secretary
First Elite Capital Modaraba
Registered and Principal Office:
31/10-A, Abu Baker Block,
New Garden Town Lahore
Ph: 042-35913701, 35913702
Fax: 042-35913703
E-mail: fecm@nexllnx.net.pk

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