Last close · 16 Oct 2026
Rs 13.47 -0.22%
Quarterly · Q4 FY2014 – Q4 FY2019
HBL Growth Fund (HGFA) quarterly income statement
| Rs mn | Q4 FY2019 Apr – Jun 2019 | Q2 FY2019 Oct – Dec 2018 | Q1 FY2019 Jul – Sep 2018 | Q4 FY2018 Apr – Jun 2018 | Q3 FY2018 Jan – Mar 2018 | Q2 FY2018 Oct – Dec 2017 | Q1 FY2018 Jul – Sep 2017 | Q4 FY2017 Apr – Jun 2017 | Q3 FY2017 Jan – Mar 2017 | Q2 FY2017 Oct – Dec 2016 | Q1 FY2017 Jul – Sep 2016 | Q4 FY2016 Apr – Jun 2016 | Q3 FY2016 Jan – Mar 2016 | Q2 FY2016 Oct – Dec 2015 | Q1 FY2016 Jul – Sep 2015 | Q4 FY2015 Apr – Jun 2015 | Q3 FY2015 Jan – Mar 2015 | Q2 FY2015 Oct – Dec 2014 | Q1 FY2015 Jul – Sep 2014 | Q4 FY2014 Apr – Jun 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | — | 100.8 | 79.5 | 84.8 | (121.5) | 215.1 | (93.4) | 387.6 | 287.7 | 370.3 | 95.7 | 146.6 | 183.7 | 165.2 | 59.1 | 100.5 | 287.9 | 245.5 | 54.4 | 266.3 |
| Net income before tax | — | (509.5) | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 | 18.1 | 162.7 | (10.5) | 664.1 | (1,082.5) | 542.2 | (262.7) | 582.5 |
| Net income for the period | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 | 18.1 | 162.7 | (10.5) | 664.1 | (1,082.5) | 542.2 | (262.7) | 582.5 |
| Rs mn | Q4 FY2019 Apr – Jun 2019 | Q2 FY2019 Oct – Dec 2018 | Q1 FY2019 Jul – Sep 2018 | Q4 FY2018 Apr – Jun 2018 | Q3 FY2018 Jan – Mar 2018 | Q2 FY2018 Oct – Dec 2017 | Q1 FY2018 Jul – Sep 2017 | Q4 FY2017 Apr – Jun 2017 | Q3 FY2017 Jan – Mar 2017 | Q2 FY2017 Oct – Dec 2016 | Q1 FY2017 Jul – Sep 2016 | Q4 FY2016 Apr – Jun 2016 | Q3 FY2016 Jan – Mar 2016 | Q2 FY2016 Oct – Dec 2015 | Q1 FY2016 Jul – Sep 2015 | Q4 FY2015 Apr – Jun 2015 | Q3 FY2015 Jan – Mar 2015 | Q2 FY2015 Oct – Dec 2014 | Q1 FY2015 Jul – Sep 2014 | Q4 FY2014 Apr – Jun 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | — | -53.2% | — | -78.1% | -142.2% | -41.9% | -197.6% | +164.4% | +56.7% | +124.2% | +61.8% | +45.9% | -36.2% | -32.7% | +8.7% | -62.3% | -46.4% | -28.0% | -89.5% | -60.0% |
| Net income before tax | — | -911.1% | — | -678.3% | +549.1% | -95.0% | -423.1% | -85.5% | +336.2% | +676.5% | — | -57.0% | — | -70.0% | — | +14.0% | -484.2% | -14.2% | -180.8% | -18.0% |
| Net income for the period | — | — | — | -678.3% | +549.1% | -95.0% | -423.1% | -85.5% | +336.2% | +676.5% | — | -57.0% | — | -70.0% | — | +14.0% | -484.2% | -14.2% | -180.8% | -18.0% |
Change against the same quarter a year earlier; shown when the earlier figure is positive.
| Rs mn | Q4 FY2019 Apr – Jun 2019 | Q2 FY2019 Oct – Dec 2018 | Q1 FY2019 Jul – Sep 2018 | Q4 FY2018 Apr – Jun 2018 | Q3 FY2018 Jan – Mar 2018 | Q2 FY2018 Oct – Dec 2017 | Q1 FY2018 Jul – Sep 2017 | Q4 FY2017 Apr – Jun 2017 | Q3 FY2017 Jan – Mar 2017 | Q2 FY2017 Oct – Dec 2016 | Q1 FY2017 Jul – Sep 2016 | Q4 FY2016 Apr – Jun 2016 | Q3 FY2016 Jan – Mar 2016 | Q2 FY2016 Oct – Dec 2015 | Q1 FY2016 Jul – Sep 2015 | Q4 FY2015 Apr – Jun 2015 | Q3 FY2015 Jan – Mar 2015 | Q2 FY2015 Oct – Dec 2014 | Q1 FY2015 Jul – Sep 2014 | Q4 FY2014 Apr – Jun 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | — | 100.0% | 100.0% | 100.0% | — | 100.0% | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Net income before tax | — | (505.6%) | (140.5%) | (281.3%) | — | 29.2% | — | 10.6% | 27.4% | 341.2% | 289.4% | 194.7% | 9.8% | 98.5% | (17.7%) | 660.9% | (376.1%) | 220.9% | (482.9%) | 218.7% |
| Net income for the period | — | — | (140.5%) | (281.3%) | — | 29.2% | — | 10.6% | 27.4% | 341.2% | 289.4% | 194.7% | 9.8% | 98.5% | (17.7%) | 660.9% | (376.1%) | 220.9% | (482.9%) | 218.7% |
Each line as a percentage of income.
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. Updated 16 Oct 2026.
All reported line items 86
| Rs mn | Q4 FY2019 Apr – Jun 2019 | Q2 FY2019 Oct – Dec 2018 | Q1 FY2019 Jul – Sep 2018 | Q4 FY2018 Apr – Jun 2018 | Q3 FY2018 Jan – Mar 2018 | Q2 FY2018 Oct – Dec 2017 | Q1 FY2018 Jul – Sep 2017 | Q4 FY2017 Apr – Jun 2017 | Q3 FY2017 Jan – Mar 2017 | Q2 FY2017 Oct – Dec 2016 | Q1 FY2017 Jul – Sep 2016 | Q4 FY2016 Apr – Jun 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment Income - Gross - Investment | — | 176.8 | 75.5 | 256.0 | 63.3 | 417.5 | 69.5 | 234.9 | 55.4 | 221.5 | 50.5 | 53.1 |
| Dividend Income - Investments | — | 153.5 | 57.9 | 241.1 | 47.0 | 399.2 | 51.2 | 227.7 | 50.3 | 214.5 | 44.8 | 47.6 |
| Interest Income - Investment | — | 23.3 | 17.6 | 14.9 | 16.2 | 18.2 | 18.2 | 7.3 | 5.1 | 7.0 | 5.7 | 5.5 |
| Fees & Commissions Expense | — | 6.5 | 7.1 | 5.3 | 5.2 | 5.1 | 5.7 | 6.3 | 6.1 | 5.5 | 5.2 | 4.8 |
| Realized Capital Gain/(Loss) - Total | — | (76.0) | 1.2 | (171.2) | (185.5) | (202.3) | (162.9) | 152.6 | 232.3 | 148.8 | 45.2 | 93.5 |
| Investments Securities - Realized Gain/(Loss) | — | (76.0) | 1.2 | (171.2) | (185.5) | (202.3) | (162.9) | 152.6 | 232.3 | 148.8 | 45.2 | 93.5 |
| Investments & Loans - Business - Gain/(Loss) | — | (76.0) | 1.2 | (171.2) | (185.5) | (202.3) | (162.9) | 152.6 | 232.3 | 148.8 | 45.2 | 93.5 |
| Revenue from Business-Related Activities - Other - Total | — | — | 2.8 | — | — | — | — | 0.0 | (0.0) | — | — | — |
| Business-Related Financing Revenue - Other | — | — | — | — | 0.8 | — | — | — | — | — | — | — |
| Revenue from Business Activities - Total | — | 100.8 | 79.5 | 84.8 | (121.5) | 215.1 | (93.4) | 387.6 | 287.7 | 370.3 | 95.7 | 146.6 |
| Cost of Operating Revenue | — | — | 7.1 | 5.3 | 5.2 | 5.1 | 5.7 | 6.3 | 6.1 | 5.5 | 5.2 | 4.8 |
| Selling, General & Administrative Expenses - Total | — | 18.5 | 90.2 | 42.1 | 76.1 | 71.4 | 85.2 | 105.9 | 10.3 | 80.0 | 77.9 | 81.8 |
| Selling, General & Administrative Expenses - Unclassified | — | — | — | 3.1 | 3.7 | — | 5.8 | 17.0 | 3.0 | — | 6.0 | 5.1 |
| Investment Management Fees | — | 68.1 | 72.3 | 38.9 | 72.4 | 69.6 | 79.4 | 51.1 | 85.4 | 75.9 | 63.7 | 58.0 |
| Other Operating Expense/(Income) - Net | — | — | 1.0 | 45.1 | 5.2 | 4.7 | 1.0 | (8.5) | 4.2 | 3.9 | 0.9 | 0.9 |
| Performance/Incentive Investment Fees | — | 68.1 | 72.3 | 38.9 | 72.4 | 69.6 | 79.4 | 51.1 | 85.4 | 75.9 | 63.7 | 58.0 |
| Operating Expenses - Total | — | — | 98.3 | 92.4 | 86.5 | 81.2 | 92.0 | 103.7 | 20.6 | 89.3 | 84.0 | 87.5 |
| Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses | — | — | — | 0.0 | 0.0 | — | 0.0 | 0.8 | (78.2) | — | 0.0 | 0.0 |
| Selling, General & Administrative Expenses - Other - Total | — | — | — | — | — | — | — | 37.0 | — | — | 8.3 | 18.7 |
| Operating Profit before Non-Recurring Income/(Expense) | — | — | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Property & Other Taxes | — | — | — | — | — | — | — | 37.0 | — | — | 8.3 | 18.7 |
| Other Operating Expense | — | — | 1.0 | — | — | — | — | — | — | — | — | — |
| Other Non-Operating Income/(Expense) - Total | — | — | (0.0) | — | — | — | — | — | (0.0) | — | — | — |
| Normalized Pre-tax Profit | — | 8.9 | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Non-Recurring Income/Expense - Total | — | (518.4) | (92.8) | (231.0) | 719.4 | (71.1) | (709.5) | (242.6) | (188.3) | 982.4 | 265.3 | 226.4 |
| Fair Value Adjustments - Financial Investments | — | (518.4) | (92.8) | (231.0) | 719.4 | (71.1) | (709.5) | (242.6) | (188.3) | 982.4 | 265.3 | 226.4 |
| Provision for Income Tax Expense- Unclassified | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Income before Taxes | — | (509.5) | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Income Taxes | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income after Tax | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Income before Discontinued Operations & Extraordinary Items | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Net Income before Minority Interest | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Net Income after Minority Interest | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Income Available to Common Shares | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Other Comprehensive Income - Starting Line | — | — | (111.6) | (238.6) | 511.4 | 62.8 | — | — | — | — | — | — |
| Other Comprehensive Income - Unrealized Investment Gain/(Loss) | — | — | (99.9) | (184.2) | 718.7 | (1,814.7) | — | — | — | — | — | — |
| Other Comprehensive Income - Net of Tax - Total | — | — | (99.9) | (184.2) | 718.7 | (1,814.7) | — | — | — | — | — | — |
| Comprehensive Income before Minority Interest - Total | — | — | (211.6) | (422.8) | 1,230.1 | (1,751.9) | — | — | — | — | — | — |
| Comprehensive Income - Attributable to Parent Company Equity Holders - Total | — | — | (211.6) | (422.8) | 1,230.1 | (1,751.9) | — | — | — | — | — | — |
| Earnings Adjustments to Net Income - Other Expense/(Income) | — | — | — | — | 0.0 | — | 0.0 | — | — | — | — | — |
| DPS - Common - Gross - Issue - By Period End Date Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.75 | 0.00 | 0.00 | 0.00 | 0.75 |
| Net Income - Basic - including Extraordinary Items Applicable to Common - Total | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Income available to Common excluding Extraordinary Items | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Shares used to calculate Basic EPS - Total mn | — | — | 283.5 | 282.6 | 284.1 | 285.6 | 283.2 | 283.3 | 281.4 | 283.3 | 282.6 | 282.6 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs | — | — | (0.07) | (0.03) | (0.73) | 0.47 | (0.65) | 1.00 | 0.95 | 0.99 | 0.04 | 0.21 |
| Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Earnings Allocation Factor - Basic - Issue Specific | — | — | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× |
| Shares used to calculate Basic EPS - Issue Specific mn | — | — | 283.5 | 282.6 | 284.1 | 285.6 | 283.2 | 283.3 | 281.4 | 283.3 | 282.6 | 282.6 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs | — | — | (0.07) | (0.03) | (0.73) | 0.47 | (0.65) | 1.00 | 0.95 | 0.99 | 0.04 | 0.21 |
| EPS - Basic from Discontinued Operations & Extraordinary Items Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Comprehensive Earnings Per Share - Basic - Issue Specific Rs | — | — | (0.75) | (1.50) | 4.33 | (6.14) | — | — | — | — | — | — |
| Net Income - Diluted - including Extraordinary Items Applicable to Common - Total | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Diluted Income available to Common excluding Extraordinary Items | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Shares used to calculate Diluted EPS - Total mn | — | — | 283.5 | 282.6 | 284.1 | 285.6 | 283.2 | 283.3 | 281.4 | 283.3 | 282.6 | 282.6 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs | — | — | (0.07) | (0.03) | (0.73) | 0.47 | (0.65) | 1.00 | 0.95 | 0.99 | 0.04 | 0.21 |
| Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific | — | — | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Earnings Allocation Factor - Diluted - Issue Specific | — | — | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× |
| Shares used to calculate Diluted EPS - Issue Specific mn | — | — | 283.5 | 282.6 | 284.1 | 285.6 | 283.2 | 283.3 | 281.4 | 283.3 | 282.6 | 282.6 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | — | — | (0.39) | (0.84) | 1.80 | 0.22 | (3.16) | 0.15 | 0.28 | 4.46 | 0.98 | 1.01 |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs | — | — | (0.07) | (0.03) | (0.73) | 0.47 | (0.65) | 1.00 | 0.95 | 0.99 | 0.04 | 0.21 |
| EPS - Diluted from Discontinued Operations & Extraordinary Items Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Comprehensive Earnings Per Share - Diluted - Issue Specific Rs | — | — | (0.75) | (1.50) | 4.33 | (6.14) | — | — | — | — | — | — |
| DPS - Common - Gross - Issue - By Announcement Date Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 2.75 | 0.00 | 0.00 | 0.00 | 0.75 | 0.00 |
| DPS - Common - Net - Issue - By Announcement Date Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 2.48 | 0.00 | 0.00 | 0.00 | 0.68 | 0.00 |
| Earnings before Interest & Taxes (EBIT) | — | 8.9 | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) | — | — | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Normalized after Tax Profit | — | 518.4 | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Normalized Net Income from Continuing Operations | — | 518.4 | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Normalized Net Income - Bottom Line | — | 518.4 | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Earnings before Interest & Taxes (EBIT) - Normalized | — | 8.9 | (18.8) | (7.6) | (208.0) | 133.9 | (185.4) | 283.8 | 267.1 | 281.0 | 11.7 | 59.1 |
| Operating Expenses | — | 91.9 | 98.3 | 92.4 | 86.5 | 81.2 | 92.0 | 103.7 | 20.6 | 89.3 | 84.0 | 87.5 |
| Selling, General & Administrative Expenses excluding Research & Development Expenses | — | 18.5 | 90.2 | 42.1 | 76.1 | 71.4 | 85.2 | 105.9 | 10.3 | 80.0 | 77.9 | 81.8 |
| Income before Taxes & Provision for Loan Losses | — | (509.5) | (111.6) | (238.6) | 511.4 | 62.8 | (894.9) | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Cost of Revenue including Operation & Maintenance (Utility) - Total | — | — | 7.1 | 5.3 | 5.2 | 5.1 | 5.7 | 6.3 | 6.1 | 5.5 | 5.2 | 4.8 |
| DPS - Common - Gross - Issue - By Payable Date Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Gross - Issue - By Ex Date Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 2.75 | 0.00 | 0.00 | 0.00 | 0.75 | 0.00 |
| Tax Adjusted Operating Income | — | — | — | — | 511.4 | 62.8 | — | 41.3 | 78.8 | 1,263.4 | 277.0 | 285.5 |
| Estimated Tax Rate | — | 0.30× | 0.30× | 0.30× | 0.30× | 0.31× | 0.31× | 0.31× | 0.31× | 0.32× | 0.32× | 0.32× |
| Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 2.75 | 0.00 | 0.00 | 0.00 | 0.75 | 0.00 |
Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 12 periods; the table above goes back further.