KARACHI, Nov 1: Scores of stock market-listed companies announced their results on Thursday.
The financial figures made little impact as horrified investors saw red splashed all across the trading screen, with the market taking a plunge of 2.72 per cent—a staggering 390 points in the KSE-100 index. Some of the results were as follows:UBL FUNDS: UBL Fund Managers announced results for first quarter ended Sept 30 for its United Money Market Fund (UMF); United Growth & Income Fund (UGIF); United Stock Advantage Fund (USF) and United Composite Islamic Fund (UCIF).
UMF generated a yield of 9.05 per cent p.a. and earnings per unit (epu) of Rs2.33. UGIF produced return of 9.27 per cent p.a. and epu of Rs2.41. The epu of USF stood at Rs2.49.
UBL Fund’s first Islamic Fund, United Composite Islamic Fund (UCIF) size increased by 22 per cent over June 2007.
The yield and epu for the quarter were 0.55 per cent and Rs1.42 per unit, respectively. UBL Fund Managers have recently launched their second Islamic Fund—United Islamic Income Fund (UIIF).
KASB BANK: The bank announced at the KSE that the State Bank of Pakistan had sanctioned on Oct 30, the Scheme of Amalgamation of International Housing Finance Limited (IHFL) with the KASB Bank, earlier approved by the shareholders.
In terms of the Scheme, 130 ordinary shares of KASB Bank would be issued for every 100 shares held by shareholders in IHFL.
DEWAN FAROOQUE: The Dewan Farooque Motors reported loss after tax at Rs1.6 million for the FQ07, which overturned the profit of Rs9.3 million earned in the corresponding quarter of last year.
Top line showed growth with gross sales at Rs2.0 million, compared with Rs1.8 million in the same time last year, but down the line significant increase in financial charges spoiled the broth.
TRG PAKISTAN: For the quarter ended Sept 30, the company posted (stand alone) net loss of Rs2.2 million, which reflected improvement over loss of Rs38.2 million suffered in the same time last year.
Revenue declined to Rs1.1 million, from Rs2.0 million in the comparable quarter last year.
MACPAC FILMS LTD: After tax loss for the quarter ended Sept 30 amounted to Rs 18.4 million, which was substantially lower than loss of Rs47.2 million suffered in the corresponding period of the previous year.
Sales almost halved to Rs50 million for the quarter, from Rs103 million in the same time last year, but huge amount of Rs64 million received as processing income in the period under review, helped stabilise the bottom line.
Including the loss for the three months, the company carries accumulated deficit of Rs252 million on the balance sheet.
