Standard Chartered Leasing Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Thursday, September 15, 2011, at Karachi, has approved the accounts for the Year Ended June 30, 2011 and recommended the following:

i) Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 at Rs. 0.50 per share i.e. 5%.

ii) Bonus Shares       Nil

iii) Right Shares      Nil

The financial results of the company arc as follows:

Financial Results

 

June 30, 2011

June 30, 2011

Rupees

Rupees

Revenues
Income from finance leases  304,249,001 225,132,255
Interest / mark-up / return earned 37,119,190  15,071,739
Gain on sale of fixed assets 237,611 52,895
Gain on sale of investments 25,731 1,034,535
Other income 2,627,466  268,645
———–  ————
344,258,999 241,560,069
Expenses
Finance Cost 156,933,999 108,545,549
Administrative and operating expense 81,690,760 70,625,509
(Reversal of Provision) against net investment in finance leases (11,754,233) (4,275,202)
Provision against other receivables 20,748 899,409
Impairment of available for sale securities  22,793 217,076
 ———–  ————
 226,914,067  176,012,341
 ———–   ————
Profit before Taxation 117,344,932 65,547,728
Taxation  (41,070,726) (22,941,705)
———– ————
Profit after Taxation
Carried in next page-2  76,274,206 42,606,023
Unappropriated Profit/(Loss) – B/F  (306,432,159) (340,516,977)
 ———– ————
Profit / (Loss) Available For-
Appropriations  (230,157,953) (297,910,954)
Appropriations
Transfer to Statutory Reserve   (15,254,841)  (8,521,205)
 ———–  ————
Unappropriated Profit/ (Loss) – C/F  (245,412,794)  (306,432,159)
———–  ————
Earning Per Share – Basic and Diluted   0.78  0.44

 

The Annual General Meeting of the Company will be held on October 31, 2011 at 10:00 am at Karachi

The Share Transfer Books of the Company will be closed from October 25, 2011 to October 31, 2011 (both days inclusive). Transfers received at the M/s. Hameed Majeed Associates (Pvt.) Limited H.M. House, 7 Bank Square, Lahore at the close of’ business on October 24, 2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Rehan Anjum
Company Secretary
Standard Chartered Leasing Limited
Ground Floor, Al- Rahim Towers,
I.I. Chundrigar Road
Karachi 74000 Pakistan
Tel: (021) 3242 7727
Fax: (021) 3243 8211

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