The First National Equities Limited (FNE) net profit for the first quarter of 2005-06 significantly improved by Rs 105.6 million as compared to Rs 7.8 million in the first quarter of 2004-05, said a press release issued here on Saturday.
In this connection a meeting of FNE Board of Directors was held in Karachi with Group chairman Ali A Malik in the chair and attended by Chief Executive Officer Amjad Pervez and board members Khaliq Tawab, Attiq-ur-Rehman, and Shahzad Akbar and senior officials.
The chairman was informed that during first quarter Earning Per Share (EPS) was Rs 2.11 as compared with EPS Rs 0.21 in the first quarter of 2004-05. He appreciated the efforts of FNE and informed the board that growth income of FNE is broad based whereas operating revenue stood at Rs 56.7 million in the period under review as compared to Rs 16.1 million in corresponding period of 2004-05.
The FNE's gain from transactions in marketable securities also increased to Rs 100.7 million as compared to Rs 3.9 million in 2004-05.
The operating revenue showed 253.3 percent growth, profit before tax showed 1408.7 percent, operating profit of FNE increased by 1019.5 percent.
The group chairman and board members appreciated the efforts of FNE CEO and his team. The board approved that more FNE's outlets will be opened for mass awareness in major cities of NWFP, Punjab and Balochistan for the larger benefit of general public in these areas.-PR