CA/ BOD/24-2S/ Jp
April 25, 2025
The General Manager,
Pa kistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road, Karachi.
1st Floor, NESPAK House
Sector G-5/2, Islamabad EA K I £5TA M T: +92 51 2272890-8 E W RV 5IZ E
E: psl a hashoohoteIs.com T M E W D
OWNERS AND OPERATOR S OF PEARL-CONTINENTAL HOTELS
FORM-7
Subject: FINANCIAL RESU LTS FOR THE OUARTER ENDED MARCH 31, 2025
Dear Sir,
We have to inform you that the Board of Directors of our Company in their meeting held on Friday, April 25, 2025, at 03:00 p.m. at Islamabad recommended the
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CASH DIVIDEND
An interim cash dividend for the quarter ended March 31, 2025, at Rs. Nil/- per share i.e. Nil %. This is in addition to interim Dividend(s) already paid at Rs. Nil/- per share i.e. Nil %.
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BONUS SHARES
It has been recommended by the Board of Directors to issue Interim Bonus Shares in the proportion of Nil share(s) for every Nil share(s) held i.e. Nil%. This is in addition to the Interim Bon us Shares already issued @ Nil%.
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RIGHT SHARES
not e
The Board has recommended to issue Nil % Right Shares at par/at a discount/ premium of Rs. Nil per share in proportion of Nil share(s) for every Nil shares(s). The entitlement of righ t shares being declared simultaneously will be/ will application on Bonus Shares as declared above.
ANY OTHER ENTIELEMENT / CORPORATE ACTION
NIL
- T * 92 2 J 1T S 0 5 S 0 5 -' T * 97 4 2 TJ J 50 5 50 5
Pearl-Continental
HOTELS 8 g ESORTS
T: + 92 5 J 11I FOR 5OA ] T +92 5T 335S7OO-29 • 92 5822 17 5OS SO 5
Page | I
ANY OTHER PRICE -SENSITIVE INFROMATION NIL
The financial results of the Company are attached herewith as Annexures A1 to A8.
The q uarterly Report of the Company for the period ended March 31, 2025, will be transmitted through PUCARS separately, within the specified time.
Than king you,
Yours faithfully,
for PAKISTAN SERVICES LIMITED,
Muhammad Amir Company Secretary
Encl: As Above
Page | 2
Pakistan Services Limited Annexure - Al
Condensed Interim Unconsolidated Statement of Profit or Loss (Unaudited)
' For the nine months Period ended 31 March 2025
Tbree mantles period ended 3t Nioe znontbs period eoded
Maccb 3l March
2025 2024 2025
2024
(Rupees'000J
Revenue - net | 3,651,643 | I I ,388,163 |
Cost of sales and services | (2,2t4,493) | (6,568,994) |
Gross profic | 1,437, 150 | 4,819,169 |
Other income | 466,105 | 560,881 |
Administrative expenses | (965.299) | (2,927,627) |
Impairment of investment in subsidiary | ||
(Allowance)/ reversal for expected credit loss | 22,7P0 | (23,208) |
Operating profit | 960,746 | 2,429,215 |
Finance income Realised gain on derecognition of short term investment | 129,064 | 217,632 |
Unrealised gain / (loss) on remeasurement | ||
of investments to fair value - net | (194,064) | 27,361 |
Finance cost | 726,784 | 730 388 |
Net finance cost | (791,784) | (1,485,395) |
Profit before taxation | 168,962 | 943,820 |
Income tax expense | (54,126) | (211,499) |
114 836
732.321
22.52
Profit for the period
Earnings (per share - basic and diluted) (Rupees)
Pakistan Services Limited Annexure - A2 Condensed Interim Unconsolidated Statement of Financial Position
As at 31 Starch 202$
Unaudited Audited
2025 2024
(RupcxOOM
EQUITY
S4 737 3OI
1,096,144
25_°
103,567
3,682.435
974,760
11.246
1,528
9.242
14,671,023
62,268.686
54,567,607
67,510
895.794
731,000
58
182,712
Share capital Capital reserve Revenue reserves
Rm'aJuation surplus on property, plant and equipment
UA BILITIES
Loans and borrowings Lease liabilities Employee benefits
Other non current liabilities N on - currenl lis bilities
Shori term borrowings
Current portion of loans and borrowings Current portion of lease liabilities
Trade and other payables
OntFBCt Ii$bilitics Other liabilities Unpaid dividend Unclaimed dividend Current liabilities
Total equity and liabilities
.-SSSETS
Property, plani and equipment Advance for capital expenditure Intangible asset
Investment propcny Long term investments
Advance against equiry
Non - current eseets | 57,710,356 |
Imemories | 536,645 |
Trade debts | 879,974 |
Contract assets | 46,156 |
Advances. prepayments, trade deposits and other receivables | 844 |
Shori term investments | I,4 12,907 |
Advance tax - net | 398,480 |
CrhwdbakbMvxs | 439,956 |
Cuwentomea | 4,558,330 |
Total assets | 62,268,686 |
I.ong term deposits Deferred tax assers-net
Condensed Interim Unconsolidated Statement of Cash Flows (Unaudited)
For the nice moztths period ended 31 March 2025
Nine months period ended 31 March
2025 | 2024 |
tRupees'000) | |
CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from operating activities before working capital changes | 2,802,706 |
Working capital chnnges | |
(I nc rease) f decrease in current assets Inventories | (41,830) |
Trade debts | (87,058) |
Contract assets | 6,605 |
Advances | (49,595) |
Trade deposits and prepayments | (54,520) |
Other receivables | 180,455 |
Increase / (decrease) in cu rrent liabilities | |
Trade and other payables | 187,208 |
Non current liabilities | 65,200 |
Contract liabilities | 145 966 |
Cash (used in)/generated From operations | 352,431 |
StaIT retirement benefit - gravity paid | (21,302) |
Compensated leave absences paid | (28,884) |
Income tax -net | 471,937 |
Finance cost paid | (2,960,815) |
Set cash generated from operating activities | 616,073 |
CASii r Lows FROM INVESTING ACTI VITIES | |
Additions Io property, plant and equipment | ( I ,704,304) |
Advance for capital expenditure | (100,616) |
Proceeds from disposal of property. plant and equipment | 18,412 |
Proceed from sale of short term investment | |
Advance against non-current asset held for sale | |
Increase in non-current asset held for sale | (I 11,373) |
Proceeds from disposal of non-current asset held for sale | 3.699,999 |
Receipts or rerum on bank deposits and shon term investments | 136,260 |
Long term deposits and prepayments | 33 |
Net cash (used in)/generated in investing activities | 1,939,909 |
CASH FLOWS FROM FINANCING ACTIYITIES | |
Repayment of long term financing | (2.726,175) |
Lease liabilicies paid | 58 550 |
Proceed from allocation of rooms on long term basis | |
Refund for allocation of rooms on long term basis | |
Proceed Trem loan | |
Net cash used in financing activities | (2,784,725) |
but (decrease)/ increase in cash and cash equis'aIents | (228,743) |
Cash and cash equivalents at beginning of the period | ( I ,177,676) |
Cash and cash equivalents at end of the period | t1,406,419) |
Condensed Interim Unconsolidated Statement of Changes in Equity (Unaudited)
For the nine months period ended 31 March 2025
Balance at 01 July 2023 Totul comprehensive income for I he period | 269,424 | J6,498,204 | I ,600,000 | 6,246,376 | 44,939,24‹› | ||
Prolil lor the pericd | 732,321 | 732,321 | |||||
Oher comprehensive incumc lor lhc period | |||||||
Total comprehensive income For lhe period | 732,321 | ||||||
Trans her on disposal of property, plant & equipmen I | (2,270,90ñj | 2,270,90T | |||||
Balance AI 3I March 2024 | 32T,242 | 269,424 | 34,227,29S | 1,600,000 | 9,249,602 | 45,671,567 | |
1"otaI comprehensive income for the period | |||||||
Prolit for the period | |||||||
Other comprehensive income for the period Tofal comprehensive income For the period | |||||||
Balance al JI tfarch 202'5 | |||||||
Condensed Interim Consolidated Statement of Profit or Loss (Unaudited) For the nine months period ended 31 March 2025
Three monthe period ended Eline months period ended
2025 2024 2025
2024
(Ruge2OOO)
Revenue - net | 3,71 I,626 | 11.585,274 | |||
Cost of sales and services | 2 2 4 8 | 6 66 3 7 | |||
Gross profit | 1,427, 108 | 4,818,887 | |||
Other income | 467,224 | 609,83 I | |||
Administrative expenses | (963,634) | (2.990.123) | |||
Other Expenses | (197,734) | (44,555) | |||
Gain on dipsosal of subsidiarv | 491,749 | ||||
Reversal of expecced credit loss | 2 7 0 | 23 2 | |||
Operating profit | 755,754 | 2,862,581 | |||
Finance income | 55.830 | 148,576 | |||
Realized gain on sale of short ten | investment | ||||
Unrealised gain / ( loss) on remeasurement | |||||
of investments to fair value - net | 770 | 3,873 | |||
Finance cost | 747 685 | 1,793 925 | |||
Net financecost | (691.085) | ( I ,641,476) | |||
Share or profit in equity accounted investments-net | 78, 183 | 143,327 | |||
Profit before taxation | 142,852 | 1.364,432 | |||
Income tax | 221 6 7 | ||||
Profit for the period | 9tQ99 | 1, 142,795 | |||
Profit anributable to: | |||||
Owners of the Company | 96.887 | 1,169,430 | |||
Nnn-controlling interests | 4 8 | 26 5 | |||
1,142,795 | |||||
Earnings pet share-basic and diluted (Rupees) | 2.98 | 35.96 | |||
Pakistan Services Limited
Condensed Interim Consolidated Statement of Financial Position
As at 31 March 2025
Annexure - A6
Unaudited
323,242
727
8.306,62 I
34,737,302
44,096.912
266.205
44,363, I l7
623,669
I 91,595
1,141,903
408.069
210,252
2,575,490
2.124.149
8, 188,038
143,642
77
975,052
245
528
9.242
15,224,012
62, IG2,6I9
54,730.960
67,510
1,176, 152
72,000
1,357,395
58
57,421,598
546,474
470.795
901.736
46 56
I ,076,073
729,282
459,796
510,709
4,74 I .02 I
62 62,6
202?
Audited 30 June
2024
Et}L!lT1'
Share capital Capital reserve Revenue reserves
Revaluation surplus on property. plant and equipment
F'iquiiy attributable io owners
Non-controlling interest Toial equit)'
LIA BlLlTlES
Loans and borrowings Lease liabilities Employee benefits
Geferred tax Iiabil iIy - net Other non current liabilities Non - current liabilities
Shori term borrowings
Current ponion of loans and borrowings C'urrent portion of' lease liabilities
I rade and of her payables Contract liabilities
Other Liabilities Unpaid dividend Unclaimed dividend turrent liabilities
ASSETS
Prooertv. olant and eouiDment
Intangible assets
Advance for caoital exoenditure Invcslmenl orooenv
Lone term investments
Lone term dcr›osiIs and Dreoavments Non - current assets
Inventories Development properties 1 rade debts
Contract assets
Advances. prepayments. trade deposits and other receivables
Shon term investments Advance tax - net
Cash and bank balances
Current assets
"l"otal aseets(Rupees'000)
Pakistan Services Limited
Condensed Interim Consolidated Statement of Cash Flows (Unaudited)
P!or the nine months period ended A1 March 2ñ25
Annexure - A7
Nine months period ended
2025 2024
CASH FLOWS FRGM OPERATING ACTIVITIES | (Rupees'000) |
Cash flcws from operating activities betore working capital changes | 3,276,081 |
Working capital changes | |
(lacrcese) / decrease in current assets | |
Inventories | (41.351) |
Development properties | 161,362 |
Trade dcbls | (106,958) |
Contract asses | 6,605 |
Advances | (53,677) |
Trade deposits and prepayments | (92,686) |
Other receivables | (186,807) |
lncreeee / (decrease) in current liabilities | |
Trade and other payables | f I ,077) |
Non current liabilities | 65,200 |
Cunrravt liabilities | 138,966 |
Cqsh used in operations | ( I 10,423) |
Stafl"retirement benefii - gratuity paid | (37,245) |
Compensated leave absences paid | (29,37 I) |
lncumc Us paid- net | 464,780 |
Finance c‹›st paid Net cash generated From operating activities | (2,991,801) 572,021 |
CASH FLOWS FROM INY ESTING ACTIVITIES | |
Additi‹›ns t‹› prcpeny. plant and equipment | ( 1,687,243) |
Advance For capital expenditure | (100,616) |
Proceeds liom disposal oi" property, plant and equipment | 56,822 |
Short ‹erm investments | 330 |
Procccds Ir‹›m disposal of asset held Fcr sale | 3,699,999 |
Proceeds mum sale uF shares of associates | |
Addition in asset held for sale | |
Dividend income received | |
Receipts uf return on bank deposits and short term investments | 136,259 |
Long term deposits arid prepayments | 32 276 |
Net cash (used in) investing actiyitirs | 2,729,690 |
C.ASH PLLiWS FROM FINANCING AGTI VITIES | |
Repayment of' long term financing | (2,726, i 75) |
Seltlemenl ‹›F short lerm loan | (712,067) |
Proceeds from allocation ol rooms on Ieng term basis | |
Refunds fur allocation uF rooms on Ieng term basis | |
Proceeds From long term financing | 20.000 |
Lease liabilii ies paid | 83 023 |
Net cash usrd in financing activities | (3,501.265) |
Net increase (decrease) in cash and resh equivalents | ( 199.554) |
Cash and cash equivalents at beginning uf the period | |
Cash and cash equivalents al end of the period | (,345,009) |
Pakistan Services Limited
Condensed Interim Consolidated Statement of Changes in Equity (Unaudited)
Anaezure - AB