Arif Habib Investments Limited’s interim distribution – Pakistan income fund (PIF) open end fund

January 30, 2012   Dividend Distribution   No comments

Karachi: We have to inform you that the Board of Directors of Arif Habib Investments Limited the management company of Pakistan Income Fund (PIE) in their meeting held at MCB House, Lahore on Friday January 27, 2012 at 4:00 pm approved the following interim distribution of Pakistan Income Fund:

Interim Distribution:

A bonus of 1.37 per unit an investor holding 100 units as of January 26, 2012 will get 2.6115 bonus units on the ex-bonus price of Rs. 52.46–per unit, the proportionate will apply to actual holdings. Unit holders who have opted for “CD Type” units will receive cash dividend accordingly.

The above entitlement will be paid to the unit holders whose names appeared in the register of unit holders at the close of business on January 26, 2012.

Financial Results for the year ended December 31, 2011

We have to inform you that Board of Directors of Arif Habib Investments Limited in their meeting held on Friday, 27th January, 2012 at 4.00 p.m. recommended the following:

(i) CASH DIVIDEND

An Interim Cash Dividend for the 2nd quarter ended December 31, 2011 at Rs. 0.75 per share i.e. 7.50% .This is audition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

AND/OR

(II) BONUS SHARES

It has been recommended by the Board of Directors to issue Interim Bonus shares in proportion of Nil share(s) for every share(s) held i.e Nil %. This is in addition to the Interim Bonus Shares already issued @ Nil %.

AND/OR

(iii) RIGHT SHARES

The Board has recommended to issue Nil % Right Shares at par/at a discount/premium of Rs. Nil per share in proportion of Nil share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

AND/OR

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION                           NIL

AND/OR

(v) ANY OTHER PRICE-SENSITIVE INFORMATION                             NIL

Arif Habib Investment Limited

CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)

FOR THE HALF YEAR ENDED 31 DECEMBER 2011

 

Half Year Ended Quarter Ended
31 December-
2011 2010 2011 2010
-Rupees
OPERATING INCOME 223,878,449 116,249,012 111,221,551 59,027,844
OPERATING AND ADMINISTRATIVE EXPENSES (112,765,867) (55,884,300) (57,282,107) (29,542,027)
MANAGEMENT PROCESSING AND OTHER RELATED INCOME SHARING (42,399,674) (28,974,700) (25,305,964) (18,562,568)
———– ———– ———– ———-
(155,165,541) (84,859,000) (82,588,071) (48,104,595)
———– ———– ———– ———-
OPERATING PROFIT 68,712,906 31,390,012 28,633,480 10,923,249
———– ———– ———– ———-
OTHER OPERATING INCOME 24,616,887 22,582,026 11,736,138 10,275,015
93,329,795 53,972036 40,369,618 21,198,264
———– ———– ———– ———-
FINANCE COST (37,751) (514) (29,283) (166)
PROFIT BEFORE TAXATION 98,292,044 53,971,524 40,340,335 21,198,098
TAXATION
CURRENT – for the year (2,672,763) (11,775,521) 5,022,983 (4,235,933)
        – prior year 84,339 (10,651) 84,339 (10,651)
DEFERRED (29,151,836) (187,582) (9,723,084) 1,611,557
———– ———– ———– ———-
(31,740,260) (11,973,754) (4,615,762) (2,635,027)
———– ———– ———– ———-
NET PROFIT AFTER TAXATION 61,551,784 41,991,770 35,724,573 18,563,071
———– ———– ———– ———-
EARNINGS PER SHARE – BASIC AND DILUTED 0.85 1.17 0.50 0.52

 

ARIF HABIB INVESTMENTS LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE HALF YEAR ENDED 31 DECEMBER 2011

 

 

Half year ended Quarter ended
31 December
2011 2010 2011 2010
Rupees
Profit after tax 61,551,784 41,997,770 35,724,573 18,563071
Other Comprehensive income
Fair value adjustment on available for sale
investment 4,046,350 – (1,673,773) –
Reversal of deferred tax asset arising on
fair value gain (109,585) – (109,585) –
3,936765 – (1,783,356) –
———— ———— ———— ————
Total comprehensive income 65,488,549 41,997,770 33,941,215 18,563,071

The Share Transfer Books of the Company will be closed from February 10, 2012 to February 16, 2012 (both days inclusive). Transfers received in order at the office of our Share Registrar M/s Noble Computer Services (Pvt) Limited, Mezzanine Floor, House of Habib Building, (Siddiqsons Tower)  3-Jinnah Cooperative Housing Society. Main Shahrah-e- Faisal, Karachi, up to the close of the business on February 09, 2012, will be Considered in time for the determination of entitlement of shareholders to cash dividend.

For more information, contact:
Muhammad Saqib Saleem
CFO and Company Secretary
Arif Habib Investments Limited,
8th Floor, Technology City Tower,
Hasrat Mohani Road Karachi.
Tel: +92-21 11-11-62224
Fax:+92-21 32276898
Email: info@mcb.com
Web: www.mcbah.com

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