FCH reports Rs 619.5 m profit

Declares dividend Rs 15 per share:

First Capital Holdings PLC (FCH) has reported strong top and bottom line growth at the end of the third quarter of 2009-10, primarily through substantial capital gains from investments in Government securities in an environment of easing monetary policy.

A company spokesman stated that in keeping with the Group's policy of a high dividend payout ratio, the company has announced a dividend of Rs 15 per share.

The total dividend payout amounts to Rs 506.25 million, as reported in a filing with the Colombo Stock Exchange this week.

According to figures released to the CSE, First Capital achieved profit after tax of Rs 619.5 million for the nine months ending December 31, 2009, a nine-fold increase over the corresponding period of last year.

Profit attributable to equity holders of the parent company grew nearly 12 times to Rs 553.2 million.

Earnings per Share increased to Rs 16.39 for the review period from Rs 1.39 for the first nine months of 2008-09, while Group Net Assets per Share stood at Rs 29.71 as at December 31, 2009, up from Rs 10.91 a year earlier.

A spokesman attributed the growth to timely and aggressive trading of Government securities by the Group's primary dealer First Capital Treasuries.

Contributing to the Group's performance are three progressive and profitable financial services companies.