Swarnamahal Financial Services profit up 124 % to Rs. 141 m

Swarnamahal Financial Services Plc (SFS), has reported a strong performance during the financial year 2011/12 with overall income growing by 49% to reach Rs. 1.06 billion, compared to the income of Rs. 713 million a year earlier.

During FY12 SFS reported a before tax profit growth of 125%, with profits before tax reaching Rs. 218.9 million, up from Rs. 96.9 million during the previous financial year.

The company's profit after tax more than doubled to Rs. 140.7 million in the 2011/12 financial year, from Rs. 62.7 million in the previous year.

Total asset base grew from Rs. 4 billion to Rs. 5.3 billion, an increase of Rs. 1.3 billion.

The company listed on Diri Savi Board of the Colombo Stock Exchange, is mainly engaged in deposit taking, pawning services, vehicle leasing, hire purchase and providing loans and other credit facilities, through its network of 17 branch offices and gold loan service centres spread across the country.

It styles itself as one of Sri Lanka's most trusted licensed finance companies.