SEYB result - pre announcement

Here you go pre announcement hot hot
http://www.cse.lk/cmt/upload_report_file/443_1298634213.pdf
Quarter ended annualized Rs 6.09
Year End Rs 4.75
Improvement on YoY and Quarter on Quarter .
Another good financial report on bank.

When is this darn financial rally?

yay!

that is impressive,profits have doubled

I will reserve my comments on this Bank for the moment until I do the final analysis.
Some things don't rhyme well in accounting terms.

I generally, believe all but trust a few!!
Can't help the theory.

SEYB.N should touch 180
SEYB.X should touch 90

I can't understand how to calculate EPS for seyb since they having voting & non voting shares.
130Mn voting shares
123.56Mn non voting shares.

Impressive? Profit has gone down by around 25%. It's the 'other income' that covers them and less expenses. Did they also sell part of their portfolio or something?

ranga wrote:

I can't understand how to calculate EPS for seyb since they having voting & non voting shares.
130Mn voting shares
123.56Mn non voting shares.

you will have to consider them as one type - ordinary shares and calculate

wis wrote:Impressive? Profit has gone down by around 25%. It's the 'other income' that covers them and less expenses. Did they also sell part of their portfolio or something?

Yes. net interest income up only by 8.5% for whole year.

As i see, the provisions have been reduced a big deal and bad debts have reduced.

Any way profit is profit and it has doubled... We are not investing only on rate profits. We are investing on Seylan bank which has doubled the profit...

wis wrote:Impressive? Profit has gone down by around 25%. It's the 'other income' that covers them and less expenses. Did they also sell part of their portfolio or something?

I agree with you wis. Other income has to be deducted when calculating the EPS. but sadly most people seem to think that it's perfectly alright for a company to have an operating loss as long as the bottom line is positive. That's why some shares have crazy prices. and that's also why foreign investors are scrambling for the exit.

1st wrote:Any way profit is profit and it has doubled... We are not investing only on rate profits. We are investing on Seylan bank which has doubled the profit...

double. ah yes, the word that's on everyone's mouth. When people enter the market to double, it results in everyone's life savings being halved.

1st wrote:Any way profit is profit and it has doubled... We are not investing only on rate profits. We are investing on Seylan bank which has doubled the profit...

If you go in this attitude, you'll end up buying trash rather than real valued stocks..

Have u not seen us taking abt sustainable growth.. qtr-qtr real growth. have u not learnt that we stressed om removing criteria such as 'other income', 'minority interest' out of profits cuz those can be vary next year even can go minus as per market fluctuations..

Now nobody says SEYB is bad.. only thing is their real income is not so as we expected.. But SEYB can do well in future I hope..

Thanks for all comments.. Just put my comments get expt comments.. all the comes are highly valued.. We all need care each other..

There is universal Rule - Give and Get
this is true for stock markerket even..

thanks.

1st Are u an Indian or SL residing in India?

Hmm...

Earnings are nice but ramped up a little as with all SEYB reports. But they're not strictly a traditional bank they tend to do other things on the side as well. so some of these other earning are probably coming from that, and have been consistently coming for the last 3-4 quarters. Also a good chunk of the other earnings are commissions and therefore part and parcel of their business.

For me the things to look for is not the earnings. the more important things are change in net deposits, net loans and the % of non performing loans and the fluctuation of that. all of those are looking good and their asset base is consistently growing.

think the so called experts need to have a closer look at the non performing loan rather than whining abt other income, give this bank break,they were at the brink of bankruptcy few years ago due bad loans, today thanks to the new management the group has able reduce it by more than half.and has made a thumping profit.

believe me when it came to seylan every one was more concerned abt bad loans than anything else,so ppl who got this share good for you where as the rest can keep on chatting while the bank grows to new heights...

Very encouraging performance. Bad debts has tremendously reduced.EPS (annual) Inceased to Rs.4.75. Especialy Last Q EPS has reported as Rs.6.09. congratulation!! Freinds, SB has improved its management and that is why we can see a strong BS now. If u estimate roughly based on last Q results, EPS for the next year could be around Rs. 25/-My god !!! What a PE we can see as at today's price less than 4. Huray!!!!

i think this results not leaked to mkt today, didn't see any considerable movement.

Good weekend to plan something for new month.

i feel there are many big bosses to wash their hands in next month.

All are ready now, what else to be completed.. to most waited mega rally....

RDS wrote:i think this results not leaked to mkt today, didn't see any considerable movement.

Good weekend to plan something for new month.

i feel there are many big bosses to wash their hands in next month.

All are ready now, what else to be completed.. to most waited mega rally....

I highly doubt any mega banking rally soon.
because apart from Commercial bank not any banks were able to show considerable increase of core business profit margins in this quarter. whole year reports may be good some banks but we had mega banking rally due to that in last September.

in my opinion, banks may be able to increase its profit margins in next quarter since new budget proposal (tax cuts on financial sector) affect from next quarter.

econ wrote:

RDS wrote:i think this results not leaked to mkt today, didn't see any considerable movement.

Good weekend to plan something for new month.

i feel there are many big bosses to wash their hands in next month.

All are ready now, what else to be completed.. to most waited mega rally....

I highly doubt any mega banking rally soon.
because apart from Commercial bank not any banks were able to show considerable increase of core business profit margins in this quarter. whole year reports may be good some banks but we had mega banking rally due to that in last September.

in my opinion, banks may be able to increase its profit margins in next quarter since new budget proposal (tax cuts on financial sector) affect from next quarter.

Agree with u econ, but i feel mega rally for few selected stock, not only banks

RDS wrote:

econ wrote:[
I highly doubt any mega banking rally soon.
because apart from Commercial bank not any banks were able to show considerable increase of core business profit margins in this quarter. whole year reports may be good some banks but we had mega banking rally due to that in last September.

in my opinion, banks may be able to increase its profit margins in next quarter since new budget proposal (tax cuts on financial sector) affect from next quarter.

Agree with u econ, but i feel mega rally for few selected stock, not only banks

Yes, I think a mega rally for all banking stocks does not seem relevant ( unless cse goes beserk) as some are more undervalued than other. If there is a rally all will go up. Some with go up more than others.