First Capital Holdings reports 1H net profit of Rs 113 million
First Capital Holdings PLC (FCH) has reported net profit after tax of
Rs 113.2 million for the six months ended September 30, 2012, following
an improved second quarter.
In figures released to the Colombo Stock Exchange, the Group said
revenue was up by 6.7% to Rs 700.6 million.
This increase, mainly attributed to investments in government
securities, came in the second quarter of 2012/13. Net profit after tax
for the second quarter (July - September 2012) was Rs 77 million as
against Rs 59 million in the corresponding three months of the preceding
year.
Profit attributable to equity holders of the parent company at Rs
107.1 million reflected a slight decline of 6.3% when compared with the
corresponding figures of the previous year.
Earnings per share declined marginally to Rs 1.06 for the period from
Rs 1.13. Group net assets per share stood at Rs 12.34 as at September
30,2012.
Commenting on the Group's performance, Mangala Jayashantha, Chief
Financial Officer of First Capital said: "First Capital has had a
relatively good period primarily due to a favourable position in the
bond market, which resulted in substantial income for the Group's
primary dealer arm. In the year ahead, the Group proposes to extend the
range of its corporate finance activities and products with special
focus on debt capital markets. With prospects of higher economic growth
and greater liquidity, strong opportunities exist for market development
as well as for wider participation in structured products."
"Opportunities have also been identified in the provision of
professional investment management and corporate finance advisory
services, and the Group will exercise its strong resource base to serve
customers in these areas," he added. The First Capital Group has been
operating as a leading financial services provider for over two decades
and presently has a Primary Dealership in government securities
regulated by the Central Bank of Sri Lanka, and operations as a Margin
Provider, Investment Manager and a Unit Trust Managing Company all under
the regulatory purview of the Securities and Exchange Commission of Sri
Lanka.
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