KARACHI
Arif Habib Limited (AHL) posted earnings of Rs 881 million (earning per share (EPS): Rs 16.01) in last fiscal year 2016-17, which was up by 115 per cent year on year (YoY) in contrast to Rs 409 million (EPS in 2015-16: Rs 7.45) during the same period in the preceding year.
Along with this, the company has announced a final cash dividend of Rs 10.00 per share compared to the last payout of Rs 7 per share in 2015-16.
The financial report said that operating revenue during the 2016-17 escalated by 45 per cent YoY to Rs 858 million compared to Rs 590 million during the same period of the preceding year, given KSE-100 index provided a massive return of 23 per cent in the year attracting new investors in the wake of increasing confidence in the market.
Administration expense observed a surge of 44 per cent YoY which is directly proportional to the increase in operating revenue while finance cost witnessed a drop of 17 per cent YoY to Rs 138 million attributable to lower reliance on borrowing and lower interest rates.
AHL booked effective taxation at 23 per cent amid higher capital gains on the sale of investment, the bank’s report added.
