AHL declares Rs2.08 billion annual profit

AHL declares Rs2.08 billion annual profit

KARACHI: Arif Habib Limited (AHL) on Monday announced Rs2.08 billion as profit for the year ended June 30, 2021.

The board of directors of the AHL approved the financial results for the year ended June 30, 2021.

The company also declared a final cash dividend of Rs 10 per share i.e. 100 per cent, and bonus 10 per cent (i.e. 10 shares for every 100 shares held) for the year 2021.

The company recorded the highest ever revenues in the history of brokerage, investment banking and money markets division; all combined have taken up AHL’s core income by Rs1,398 million.

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

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 realized and unrealized revenue of Rs1,681 million against Rs228 million in the corresponding period.

Commenting on the results, Shahid Ali Habib, CEO, 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 coming year as the economy grows and focus on capital market development intensifies.” 

AHL, which led 8 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.

AHL is pioneering the efforts of opening Roshan Digital Accounts (RDA) for Overseas Pakistanis that is bound to help Pakistan increase foreign investment flows and has maintained an average of 35 per cent of market share since RDA’s introduction in September.

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