KARACHI, Sept 12: Jahangir Siddiqui Capital Markets Ltd posted a net profit of Rs102.3m for the year ended June 30, 2005, which represented earnings growth of 154 per cent over the earlier year’s taxed profit at Rs40.3 million. The profit worked out to earning per share (EPS) of Rs10.58, up from Rs6.71 per share last year.
The results were announced at the KSE on Monday. The board, which had met on Saturday, also announced bonus shares in proportion of three shares for every 20 shares held, i.e. at 15 per cent.
A press release issued by the company on Monday stated: “It may be recalled that the company in its meeting on February 24, 2005 had announced a 15 per cent interim cash dividend just within the 14 trading days after it got listed on the KSE on February 7, 2005.” JS Capital Markets is a subsidiary of Jahangir Siddiqui and Company Limited.
Operating revenues of the company grew 51 per cent to Rs206m during the year ended on June 30, 2005. “Massive growth was witnessed in income from reverse repurchase transactions that rose to Rs46m from Rs6m last year,” the company said. The JS Capital market stock closed at a price of Rs63 on Monday, which produced price-to-earnings (PER) multiple of 6x. The annual general meeting of the company would be held on October 22.
