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Invest and Finance Securities Limited’s financial results for the second quarter and half year ended December 31, 2011

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Karachi: We have to inform you that the Board of Directors of our company in their meeting held on January 16, 2012 at 03:45 p.m. at Registered Office, 12th Floor, Corporate Tower, Technocity Building, Hasrat Mohani Road, Off: I. I. Chundrigar Road, Karachi, recommended the following:

(i) Cash Dividend                                    Nil

And/ Or

(ii) Bonus Shares                                    Nil

And/ Or

(iii) Right Shares                                   Nil

And/ Or

(iv) Any Other Entitlement/Corporate Action          Nil

And/ Or

(v) Any Other Price-Sensitive Information           None

The financial results of the Company for the second quarter and half year ended December31, 2011 are attached.

The Board of Directors has fixed the number of Directors as 7 (seven) in accordance with the provisions of Section 178 (1) of the Companies Ordinance, 1984 for the forthcoming election of Directors. The date, time and place of Extraordinary General Meeting and book closure dates will be decided later in due course of time.

The Board after deliberation has deferred the approval of future business plan/strategy for the time being.

The Financial Results of the Company for the second quarter and half year ended December 31, 2011 are as follows:

 

Half year Ended

Second year Ended

December 31,

December 31,

December 31,

December 31,

2011

2010

2011

2010

Rupees

Rupees

Operating Revenues31,352,20228,599,37518,346,21418,509,774
Gain on sale of invests-net178,750,93010,646,874169,750,02110,152,913
———–———-———–———-
210,103,13239,246,249188,096,23528,662,687
Operating Expenses(28,969,546)(24,507,115)(13,865,972)(13,349,169)
———–———-———–———-
Operating Profit181,133,58614,739,134174,230,23615,313,518
Other Operating Income404,1623,217,25339,5481,131,903
Provisions for Workers’ Welfare fund(4,352,362)(4,352,362)
Financial Charges(4,071,834)(2,479,306)(1,902,433)(329,865)
(Loss)/ gain on revolution of
Investments carried at Fair value
through profit And loss account-net(52,520,661)27,711,72935,788,02526,869,644
———–———-———–———-
(56,188,333)24,097,314(37,650,910)23,319,320
———–———-———–———-
Profit before Taxation124,945,25338,836,448136,579,35338,632,838
Taxation(1,825,473)(1,753,251)(1,134,939)(1,706,220)
———–———-———–———-
Profit after Taxation123,119,78037,083,197135,444,41436,926,618
Other comprehensive Income
———–———-———–———-
Total Comprehensive
For the period123,119,78037,083,197135,444,41436,926,618
———–———-———–———-
Earnings per Share – Basic and diluted2.050.622.260.61

 

For more information, contact:
Muhammad Awais
Director and Company Secretary
Invest and Finance Securities Limited
12th floor, Corporate Tower,
Technocity Building, Hasrat Mohani Road
Off: I. I. Chundrigar Road, Karachi, Pakistan
Tel: (+92 21) 32276932-35
Fax: (+92 21) 32276969
Web: www.investfinance.com.pak

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