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Thursday, 13 December 2012

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MI, Finance clinches Silver at CASL annual reports

Mercantile Investments and Finance PLC's (MI ) 2011/ 12 Annual Report won the Silver award in the "Finance Companies Sector" at the recently held 48th Annual Report awards competition organized by the Institute of Chartered Accountants of Sri Lanka.

Gerard Ondaatjie Managing Director of Mercantile Investments and Finance PLC receiving the Silver award from the President of CA Sri Lanka Sujeewa Rajapakse. TishanSubasinghe Chairman Annual report awards 2012 (Right ) and N.R Gajendran Alternate Chairman Annual report Awards 2012 (Left).

The 2011/12 Annual report also won the Silver award for its cover photo and design, at the recently held Arc Awards in New York, in the financial services -general category, while winning a bronze for the overall report at the League of American Communication Professional (LACP), in the financials diversified services category, held again in New York earlier in this period.

The Company has been continuing to win accolades for more than a decade for its transparency and disclosure, producing Annual Reports even when the Company was not quoted on the stock exchange.

MI is probably the only company to have won twelve consecutive Gold Awards under the Finance Company Sector, in the Annual Reports Competition organized by the Institute of Chartered Accountants Sri Lanka.

MI reported impressive results in terms of its financial performance for the six months ended September 2012, posting a Profit After Tax of Rs 417 milion.

Profit Before Tax for the same period was Rs 467 milion.

The 16 branches are well distributed around the economic centers of the country with further expansion planned in 2013.

 

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