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
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
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.