AHL posts highest-ever profit of Rs2.08 billion

Web DeskWeb Editor

02nd Aug, 2021. 03:33 pm

KARACHI: The Arif Habib Limited (AHL) earned the highest-ever net profit of Rs2.084 billion for the year ended June 30, 2021, a bourse filing said on Monday.

The company also declared a final cash dividend of Rs10/share and the bonus of 10 per cent, i.e., 10 shares for every 100 shares held for 2021, it added.

The Arif Habib Limited (AHL) also recorded its highest-ever revenues in the history of the brokerage, investment banking and money markets division; all combined have taken up AHL’s core income by Rs1.398 billion.

The brokerage division witnessed an increase of 132 per cent in revenues against the same period of the previous year.

The investment banking’s income increased massively by 633 per cent from Rs155 million to Rs672 million. This increase is attributable to successful completion of equity and debt IPOs. The company’s investment portfolio has yielded healthy realised and unrealised revenue of Rs1.681 billion against Rs228 million in the corresponding period.

Shahid Ali Habib, CEO of AHL, said: “AHL’s growth momentum is outstanding and in line with our expectations. The phenomenal increase in revenue has been due to stellar performance across all business divisions and high volumes in the market. We foresee similar brokerage and investment banking performance in the coming year as the economy grows and focus on capital market development intensifies.”

AHL, which led eight of the 10 IPOs this year, has embarked upon expanding its footprint by establishing presence in other cities and increasing its client base both within Pakistan and abroad, which is expected to reap dividends by its shareholders in the future.

 

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