EFG Hermes Pakistan : Transmission of Quarterly Report for the Period Ended 30-9- 2022

EXPERIENCE

FOCUS

GROWTH

2022

Nine Month Report September 30

Contents

02	08
Company Information	Condensed Interim
	Cash Flow Statement
03	09
Director's Review - Report	Condensed Interim
	Statement of Changes in Equity
05	10
Auditor's Review Report	Notes to the Financial Statement
06	17
Condensed Interim	Pattern of Shareholding
Statement of Financial Position
07
Condensed Interim
Statement of Profit or Loss
and Other Comprehensive Income

Company Information

Board of Directors	Mr. Murad Ansari - Chairman
	Mr. Mohamed Ebeid - Director
	Mr. Fayyaz Ilyas - Director
	Ms. Sarah Maja - Director
	Mr. Freyan Byram Avari - Director
	Mr. Johannes Gunnell - Director
	Mr. Saad Iqbal - CEO & Director
Audit Committee	Mr. Johannes Gunnell - Chairman
	Mr. Fayyaz Ilyas - Member
	Ms. Sarah Maja - Member
	Mr. Freyan Byram Avari - Member
HR & R Committee	Mr. Freyan Byram Avari - Chairman
	Mr. Mohamed Ebeid - Member
	Ms. Sarah Maja - Member
Company Secretary	Mr. Shahid Kamal
Chief Financial Officer	Mr. Ahmad Zakir Hafeez
Auditors	M/s. Riaz Ahmad, Saqib, Gohar & Company Chartered Accountants
	5-Nasim, C.H.S. Major Nazir Bhatti Road,
	Off: Shaheed-e-Millat Road, Karachi, Pakistan.
Legal Advisor	M/s. Mohsin Tayebaly & Co. (MTC)
	1st Floor, Dime Centre, BC-4, Block 9, Kehkshan,
	Clifton, Karachi, Pakistan.
Share Registrar	M/s. F. D. Registrar Services (Pvt.) Limited
	Office No. 1705-A, 17th Floor, Saima Trade Tower,
	I.I. Chundrigar Road, Karachi, Pakistan.
Bankers	MCB Bank Limited
	Bank Alfalah Limited
	Askari Bank Limited
	United Bank Limited
	Allied Bank Limited
	Bank Al Habib Limited
	Habib Metropolitan Bank Limited
	Standard Chartered Bank Limited
	Habib Bank Limited
	JS Bank Limited
	Meezan Bank Limited
Registered Office	Office No. 904, 9th Floor, Emerald Tower,
	Plot No. G-19,Block-5, Clifton, Karachi, Pakistan
Lahore Branch	319 Siddiq Trade Centre, 72 Main Boulverad,
	Gulberg, Lahore, Pakistan

Website

www.efghermespakistan.com

3

DIRECTORS' REVIEW

BEGIN IN THE NAME OF ALLAH

THE MOST GRACIOUS AND MERCIFUL

Dear Member(s)

We, on behalf of Board of Directors of your Company, are pleased to present herewith un-audited condensed interim financial statements of the Company for the third quarter and nine months ended September 30, 2022.

Performance Review

During the third quarter ended September 30, 2022, the Company earned operating revenues of Rs.

51.96 million as compared to Rs. 60.11 million for the same period during last year. The Company posted before and after tax loss Rs. (24.60) and Rs. (28.72) million respectively compared to before and after tax profit 8.53 million and Rs. 4.72 million respectively for the corresponding period. During the quarter, the loss per share for the quarter stood at Rs. (1.43) compared to earnings per share Rs. 0.24 for the corresponding period.

For the nine months ended September 30, 2022, the Company earned operating revenues of Rs. 153.87 million compared to Rs. 198.94 million for the corresponding period. The Company posted before and after tax loss of Rs. (55.50) million and Rs. (67.78) million respectively compared to before and after tax profit of Rs. 45.22 million and of Rs. 30.33 million for the same period last year. The loss per share for the nine months stood at Rs. (3.39) compared to earnings per share Rs. 1.52 for the corresponding period.

The main reason for the decrease in revenue and earnings in the review period compared to the last corresponding period is due to the decrease in overall market volumes. Further, it is expected that the volumes in the near term will remain depressed given high interest rates and political instability.

In conclusion, we pray to almighty Allah for his blessings, guidance, health and prosperity to us, our Company, Country and Nation.

For and on behalf of the Board of Directors

Chief Executive Officer

Director

Karachi, October 26 , 2022

Nine Month Report 2022

4

Nine Month Report 2022