Ceylinco Leasing profits soar

GROUP PROFITS: Ceylinco Leasing Corporation Limited (CLCL) announced the best ever profit of Rs. 35 million for the nine months ended December 31, 2005 which is 158% increase compared to the previous year 9 months profit of Rs. 13,696,043.

The annual profits for the current year is projected to be around Rs. 45 million which is a 150% increase from the previous years profits of Rs. 18, 261,391.

CLCL has been continuously profitable for the last 5 years with a collection ratio of over 95% over the last three years.

Presently company's net assets stand at Rs. 331,695,907, which has been growing every year.

Company's product Portfolio comprises of leasing of commercial property, leasing of motor vehicles, plant and machinery, operating lease facilities and management of lease portfolios for bank and non banking financial institutions.

The Company envisages a turnover of Rs 2 Bn in 2005/06 financial year and will continue to increase its profitability by expanding leasing volumes through the expansion of the branch network which is in one intranet resulting speedy decision making.

The company plans to announce a listing of its ordinary shares in the very near future, giving the public the opportunity to be stakeholders of this venture of the Ceylinco group.