Lastest Updates - Corporate Earnings

TOKYO CEMENT COMPANY (LANKA) PLC- TKYO• TKYO’s revenue grew 30% YoY for Q2 12 to LKR 5.87bn (Q2 11-LKR 4.52bn)
• GP growth 9% YoY to LKR 1.1bn (Q2 11 – 1.03bn)
• Recurring Net profit increased to LKR 374mn after adjusting for loss on sale of PPE (Q2 11- LKR 294mn)
• Forward PER – (Voting) 12.9x (FY 2012E Annualized EPS LKR 3.50)
(Non Voting) -9.8x
• Net Asset Value per share LKR 19.39
(Voting) PBV 2.33x (Non Voting) PBV 1.76x
• Manufacturing sector multiples – PER 16.10, PBV 2.3x

HEMAS POWER PLC – HPWR• Q2 2012 revenue is up 25% to LKR 1.1bn
• Q2 2012 Gross profit down 32% to LKR 125mn
• Net profit – LKR 78mn
• Q2 2012 EPS – LKR 1.23
• EPS 2012E – LKR 2.40
• PER – 12.3x
• The Magalganga Project, was completed during early September 2011 ‐ a month ahead of the scheduled completion date and within the budgeted cost. The Magalganga Project will now contribute to our revenue and profitability streams.

NATIONS TRUST BANK PLC (NTB)
• 9M FY 2011 bottom line LKR 1.2bn, up 38% YoY
• Rise in bottom line is attributable to reversal of loan loss provisions and savings from tax cuts
• Core Income and other operating income has come down
• Net asset value per share – LKR 35.76
• Asset quality has improved – NPL ratio has fallen to 3.5% from 4.9%
• Annualized EPS – LKR 6.76

AMAYA LEISURE PLC – CONN
• Revenue for Q2 FY 12 up 21% YoY to LKR 204mn
• GP margin 74% (Q2 FY 11- 73%)
• Other operating income down 94% to LKR 13.7mn
• PBT down 80% YoY to LKR 54.3mn
• PAT down 82% YoY to LKR 48.0mn
• EPS (FY 12E)- LKR 5.8
• NAV per share – LKR 14.73
• PER- 17.6x
• PBV- 6.9x

DOLPHIN HOTELS PLC – STAF
• Revenue for Q2 FY 12 up 108% YoY to LKR 139.0mn
• Gross profit up 129% YoY to LKR 100.5mn
• Admin expenses up 39% YoY to LKR 72.8mn
• PBT up 225% YoY to LKR 13.7mn
• PAT up 200% YoY to LKR 11.2mn
• EPS (FY 12E) – LKR 1.2
• NAV per share- LKR 22.55
• PER – 38.0x
• PBV- 2.1x

Courtesy: Bartleet Religare Securities
http://www.news360.lk/business-finance/corporate-earnings-25

PANASIAN POWER PLC (PAP)
• PAP reported a LKR 0.15 EPS for the quarter ended 30th June 2011, with the help of 31.7mn listed other operating income
• This was a dividend payment received from the group’s fully owned Subsidiary Manelwela Hydro power Ltd
• The dividend payment should only have been reported at a company level and not at the group level- thereby creating a double counting.
• The corrected quarterly EPS would be LKR 0.07

HATTON NATIONAL BANK PLC (HNB)
• Q3 FY 2011 reported after tax profit LKR 1.4bn (Q3 FY 2010 – LKR 1.0bn)
• 9M FY 2011 reported profit LKR 3.9bn (9M FY 2010 2.9bn)
• Rise in bottom line for 9 months FY 2011 is attributable to rise in core income, other operating income, fall in general loan loss provisions, high recoveries and benefits from reduction of VAT on financial services
• PER based on forecast earnings – voting – 10.5x , non – voting – 4.8x
• PBV – voting 1.7x, non – voting 0.76x

LB FINANCE PLC (LFIN)
• Q2 FY 2012 reported after tax profit LKR 349mn(Q2 FY 2011 – LKR 220mn)
• H1 FY 2012 reported profit LKR 700mn (H1 FY 2011 401mn)
• Rise in bottom line for H1 FY 2012 is mainly attributable to rise in core income, other operating income and savings from tax reductions
• Annualized EPS – LKR 13.48
• PER (on annualized earnings) – 10.5x
• PBV (NAVS – LKR 44.42) – 3.2x

DFCC BANK (DFCC)
• Q2 FY 2012 reported after tax profit LKR 547mn(Q2 FY 2011 – LKR 546mn)
• H1 FY 2012 reported profit LKR 1.2bn (H1 FY 2011 recurring profit 891mn)
• Rise in bottom line for H1 FY 2012 is mainly attributable to fall in loan loss provisions and savings from tax reductions
• Annualized EPS – LKR 9.15
• PER (on annualized earnings) – 12.8x
• PBV (NAVS – LKR 90.96) – 1.3x

UNION CHEMICALS LANKA PLC (UCAR)
• Revenue for Q3 up by 25% YoY to LKR 174.0mn
• Gross Profit up by 6.3%
• Gross Profit Margin at 21%
• EBIT margin at 12.7%
• Net profit up by 2.5% to LKR 12.3mn
• NAV per share- LKR 170.27
• PER – 24.3x
• PBV – 5.3x
• Sector PER –9.6 x
• Sector PBV – 1.3x

KELANI TYRES PLC (TYRE)
• TYRE’s revenue for Q2 12 increased YoY by 23% to LKR 1.18bn (Q2 11 – LKR 958mn)
• Gross Profit dipped 4.1% YoY to LKR 224mn, GP margin at 19% (Q2 11-LKR 234mn, 24%)
• EBIT decreased 9% YoY to LKR 104mn (Q2 11 – LKR 115mn)
• Net profit at LKR 67mn (Q2 11 LKR 68mn)
• Forward PER 20.2x (EPS for FY 2012E- 2.00)
• Manufacturing sector PER 16.1x

SEYLAN DEVELOPMENTS PLC (CSD)
• CSD’s revenue increased 14% YoY to LKR 47mn (Q3 10 – LKR 41mn)
• Turnover LKR 38mn, Other income LKR 9mn
• Finance expenses dropped 71% YoY to LKR 11mn (Q3 10-LKR 37mn)
• Net profit at LKR 20mn (Q3 11 loss LKR 44mn)
• Forward PER 19.8x (EPS for FY 2011E- 0.63)
• PBV 0.42x (NAV per share LKR 29.79)
• Land & property sector PER 22.2x, PBV 1.3x

HAYLEYS PLC (HAYL)
• Net turnover up by 25% YoY for six months ending ( 30.9.2011) to LKR 31.04bn. for the Q2 FY 2012 LKR 16.34bn)
• PBT up by 185% to LKR 3.61bn in comparison to LKR 1.27bnfor six months ending (30.9.2011). (capital gain of 2.19bn included from the sale of 6.87mn shares of Hayleys PLC)
• Profit for the period LKR 3.10bn in comparison to LKR 853mn in Q2 FY 2011. (includes capital gain)
• EPS- LKR 27.31 (Annualized LKR 54.62)
• EPS (Recurring)- LKR 9.80 (Annualized LKR 24.62)
• PER (LKR 380)- 15.66 (based on recurring EPS), (sector PER-18.60)
• BV- LKR 233.17
• PBV- 1.63 , (sector-1.90)
• Except for textiles all other sectors (global markets and manufacturing, agriculture and plantation, transportation and logistics, consumer products, power and energy, leisure and aviation and investments and services) have performed moderately well.
• 51% stake in Amaya leisure was acquired.
• Daily basic wages for the plantation companies have been increased from LKR 285/- to LKR 380/- from 1st April 2011.

TAL LANKA HOTELS PLC (TAJ)
• Revenue for Q2 FY 12 up 19.3% YoY to LKR 397.9mn
• GP margin 28% (GPM Q2 FY 11 24%)
• Admin expenses down 13% YoY to LKR 47.0mn
• EBIT up 138% YoY to LKR 59.5mn
• PAT up 63% YoY to LKR 45.2mn
• EPS (FY 12E) – LKR 1.00
• NAV per share- LKR 14.69
• PER – 37.0x
• PBV- 2.7x
• Sector PER – 29.3x
• Sector PBV – 2.0x

LANKA ASHOL LEYLAND PLC (ASHO)
• New vehicle sales for Q2 FY 12 up 56% YoY to LKR 3.8bn
• Vehicle spare part sales down 23% YoY to LKR 22.7mn
• Gross profit up 25% YoY to LKR 502.1mn
• EBIT up 52% YoY to LKR 543.2mn
• PAT up 70% YoY to LKR 390.2mn
• EPS (FY 12E) – LKR 206.00
• NAV per share – LKR 468.00
• PER- 17.9x
• PBV-7.9x
• Sector PER – 19.30x
• Sector PBV- 4.30x

http://www.news360.lk/business-finance/corporate-earnings-26

Thankx..

Thanks for sharing sri.

rijayasooriya wrote:Thanks for sharing sri.

oh mr.rijayasuriya! Are you a moderator now? My congratulations!

Roboticfx wrote:

rijayasooriya wrote:Thanks for sharing sri.

oh mr.rijayasuriya! Are you a moderator now? My congratulations!

Who is this Co-Admin Sstar? hmm... the forum has changed a lot within few days.

Roboticfx wrote:

rijayasooriya wrote:Thanks for sharing sri.

oh mr.rijayasuriya! Are you a moderator now? My congratulations!

Thanks Robo.

Roboticfx wrote:

Roboticfx wrote:

rijayasooriya wrote:Thanks for sharing sri.

oh mr.rijayasuriya! Are you a moderator now? My congratulations!

Who is this Co-Admin Sstar? hmm... the forum has changed a lot within few days.

Was told Sstar is the new Co-Admin to Quibit.

I don't know anything about this slstock. I saw the word Co-Admin under the name Sstar in a one of his or her post.

Roboticfx wrote:I don't know anything about this slstock. I saw the word Co-Admin under the name Sstar in a one of his or her post.

Well the only thing I also know is Sstar is Co-Admin and she is new and helping Quibit. Had no communication or contact with her.

CENTRAL FINANCE COMPANY PLC (CFIN)
• Q2 FY 2012 profit to equity holders LKR 669mn (Q2 FY 2011 – LKR 449mn)
• H1 FY 2012 profit to equity holders LKR 1,287mn (H1 FY 2011 – LKR 725mn)
• Rise in bottom line is attributable to increase in core income, cost efficiencies, fall in provisions and savings from tax cut
• Cost to income ratio 43%
• Reported EPS – Q2 FY 2012 – LKR 6.38, H1 FY 2012 – LKR 12.27
• PER (on annualized earnings) 9.4x
• PBV (NAVS LKR 114.62) – 2.0x
• BFI sector PER 18.1x, PBV 2.1x

THE HOUSING DEVELOPMENT FINANCE CORPORATION BANK (HDFC)
• EPS for 9M FY 2011 is LKR 30.76 (of which LKR 18.62 came from Q2)
• EPS for Q3 FY 2011 is LKR 1.27 compared to LKR 2.62 recorded in Q3 FY 2010
• Asset quality is deteriorated during the period (even excluding the EPF loans)
• PER (Based on EPS of LKR 31.96 for FY 2011) – 50.8x
• PBV (NAVS LKR 304.35) 5.3x
• BFI sector PER 18.1x, PBV 2.1x

THE LANKA HOSPITAL CORPORATION PLC (LHCL)
• Q3 FY 2011 reported after tax profit LKR 102mn (Q3 FY 2010 – LKR 64mn)
• 9M FY 2011 reported after tax profit LKR 233mn (9M FY 2010 – LKR 168mn)
• Rise in bottom line is mainly attributable to revenue increase
• GP margin at 45%
• PER (on annualized earnings) – 34x
• PBV (NAVS LKR 13.25) – 3.6x
• Healthcare sector PER 18.1x, PBV 2.0x

LB FINANCE PLC (LFIN)
• Q2 FY 2012 reported after tax profit LKR 349mn(Q2 FY 2011 – LKR 220mn)
• H1 FY 2012 reported profit LKR 700mn (H1 FY 2011 401mn)
• Rise in bottom line for H1 FY 2012 is mainly attributable to rise in core income, other operating income and savings from tax reductions
• Annualized EPS – LKR 20.22
• PER (on annualized earnings) – 7.0x
• PBV (NAVS – LKR 44.42) – 3.2x

REGNIS (LANKA) PLC (REG)
• Revenue increased 16.2% YoY to LKR 594mn for Q3 11 (Q3 11 – LKR 511mn)
• Revenue from refrigerators LKR 536mn and washing machines LKR 58mn
• GP margin 8.7% compared to 11.6% in Q3 10
• Net Profit growth 76% to LKR 24mn (Q3 10-LKR 14mn)
• Forward PER 22x (EPS FY 2011E- LKR 19.00)
• PBV 3.9x (NAV per share- LKR 109.53)
• Manufacturing sector multiples – PER 16.1x, PBV 2.3x

GALADARI HOTELS (LANKA) PLC (GHLL)
• Revenue for Q3 FY 11 up 25% YoY to LKR 333.0mn
• Gross profit up 26% YoY to LKR 271.4mn
• Admin expenses up 11.5% YoY to LKR 121.8mn
• Other operating expenses up 11.1% YoY to LKR 117.1mn
• Finance cost up 60% YoY to LKR 33.3mn
• Loss for the period LKR 45.5mn (Q3 FY 10 NPT- LKR 54.8mn )
• EPS (ttm) – LKR 0.07

Courtesy: Bartleet Religare Securities
http://www.news360.lk/business-finance/corporate-earnings-27

COMMERCIAL BANK OF CEYLON PLC (COMB)
• Q3 FY 2011 profit to equity holders LKR 2.1bn (Q3 FY 2010 – LKR 1.4bn)
• 9M FY 2011 profit to equity holders LKR 6.1bn (9M FY 2010 – LKR 3.7bn)
• Rise in bottom line is attributable to increase in core income, high recoveries, reversal of general loan loss provisions and savings from tax cut
• Reported EPS – Q3 FY 2011 – LKR 2.59, 9M FY 2011 – LKR 7.66
• PER (on forecasted EPS for FY 2011 – LKR 9.75) voting – 11.3x, non – voting – 7.6x
• PBV (NAVS LKR 53.11) – voting – 2.0x, non – voting – 1.4x
• BFI sector PER 13.2x, PBV 2.1x

LION BREWERY CEYLON PLC (LION)
• Revenue for Q2 up by 56% YoY to LKR 4.1bn
• Gross Profit up by 51%
• Gross Profit Margin at 28%
• EBIT margin at 14%
• Net profit up by 70% to LKR 299.8mn
• NAV per share- LKR 65.95
• PER – 12.4x
• PBV – 2.8x
• Sector PER –15.1 x
• Sector PBV – 4.1x

PEGASUS HOTELS OF CEYLON PLC (PEG)
• Revenue for Q2 FY 2012 up 58% YoY to LKR 94.1mn
• GP margin 51% (Q2 FY 2011 -74%)
• EBIT up 96% YoY to LKR 27.5mn
• Net profit up 76% YoY to LKR 21.8mn
• EPS FY 2012E – LKR 2.6
• NAV per share – LKR 38.08
• PER – 21.6x
• PBV – 1.5x
• Sector PER – 29.2x
• Sector PBV – 2.0x

CEYLON TOBACCO- (CTC)
• Net revenue- LKR 4.33bn (up YoY 30.42%)
• Profit After Tax- LKR 1.38bn (up YoY 109.38%)
• EPS Q3- LKR 10.60
• Forecasted EPS- LKR 35.47
• PER – 12.37x (Sector- 15.10x)
• BV- 23.04
• PBV- 19.04x (Sector- 4.10x)

RICHARD PIERIS AND COMPANY PLC (RICH)
• Revenue up by 20% to 7.69bn.
• Gross Profit up by 17% to 1.78bn. (the wage arrears of LKR 97.70mn and gratuity provision of LKR 469.43mn have been deducted from cost of sales)
• Profit for the period from continuing operations up by 148% to LKR 1.33bn. (includes the capital gain from the disposal of AAIC of LKR 717mn)
• Profit attributable to Ordinary Shareholders LKR 1.24bn.
• EPS for the Q2 recurring LKR 0.27
• EPS Annualized LKR 0.54
• PER- 17.41x (Sector- 18.30x)
• BV- LKR 3.13
• PBV- 3.00x (Sector-1.80x)
Courtesy: Bartleet Religare Securities
http://www.news360.lk/business-finance/corporate-earnings-28

slstock wrote:

Roboticfx wrote:I don't know anything about this slstock. I saw the word Co-Admin under the name Sstar in a one of his or her post.

Well the only thing I also know is Sstar is Co-Admin and she is new and helping Quibit. Had no communication or contact with her.

At least u know her gender.
Thanks sri for updating.

rijayasooriya wrote:

slstock wrote:

Roboticfx wrote:I don't know anything about this slstock. I saw the word Co-Admin under the name Sstar in a one of his or her post.

Well the only thing I also know is Sstar is Co-Admin and she is new and helping Quibit. Had no communication or contact with her.

At least u know her gender.
Thanks sri for updating.

I know because Quibit notified the Moderators in a PM ( possibly before you became a Moderator so missed it)

LANKA CERAMICS PLC- CERA
• Net Revenue for Q2 12 grew 11.5% YoY to LKR 2.4bn (Q2 11 – LKR 2.2bn)
• Gross Profit decreased 5% YoY to LKR 564mn as a result of increased COGS by 17% (GP Q2 11 – LKR 592mn)
• GP margin at 23% (Q2 11 – 27%)
• Recurring Net Profit attributable to equity holders LKR 89.7mn (Q2 11-LKR 93mn)
• Forward PER 10x (Forward EPS for FY 2012E- LKR 8.00)
• PBV 1.17x (NAV per share LKR 77.04)
• Manufacturing sector multiples – PER 15.6x , PBV 2.2x

FREE LANKA CAPITAL HOLDINGS PLC – FLCH
• H1 2012E Revenue is down 9.5% to LKR 2.7bn
• H1 2012E Gross Profit is down 91% to LKR 53mn
• H1 2012E Net Profit – LKR (86mn)
• H1 2012E EPS – (LKR 0.06)
• FY 2012E EPS – (LKR 0.08)
Courtesy: Bartleet Religare Securities
http://www.news360.lk/business-finance/corporate-earnings-29

PEOPLE’S LEASING COMPANY LIMITED (PLC)

• Q2 FY 2012E recurring after tax profit to equity holders LKR 790mn, up 65% YoY

• 6M FY 2012E reported after tax profit to equity holders LKR 2.5bn (However, the recurring profit for the period ~LKR 1.4bn, up 83% YoY)

• We have not considered the LKR 1.6bn provision reversal in our recurring profit calculation

• Forecast recurring EPS FY 2012E – LKR 2.16

• PER (on forecast recurring EPS and the issue price of LKR 18.00) – 8.3x

• PBV 1.26x (based of FY 2012E NVAS LKR 14.25)

KEELLS FOOD PRODUCTS PLC (KFP)

• Revenue for Q2 up by 7% YoY to LKR 571mn

• Gross Profit up by 8%

• Gross Profit Margin at 24%

• Net profit up by 12% to LKR 17.7mn

• NAV per share- LKR 42.57

• PER – 14.5x

• PBV – 2.6x

• Sector PER –14.7 x

• Sector PBV – 4.0x

COMMERCIAL CREDIT PLC (COCR)

• Net Interest Income has grown to LKR 708mn in H1 FY 2012 (from LKR 205mn in H1 FY 2011)

• Other income has also seen a notable growth

• Strong balance sheet growth of 38% YTD to LKR 7.4bn

• Bottom line for the period LKR 266mn (LKR 17mn loss for H1 FY 2011)

• Annualized EPS – LKR 2.44

• PER (on annualized earnings) 11x

• PBV 8.3x
Source: http://www.news360.lk/business-finance/corporate-earnings-30

Revenues of Sierra Cables PLC during the first half of year 2012 financial year has increased by 60% to reach Rs. 1.14 billion.

Last year during the same period, the firms revenue only recorded a sum of Rs. 717 million.
Financial performance in Summary

• H1 FY 12 Revenue increased 60% YoY to LKR 1.14bn (H1 FY 11 – LKR 717mn)
• GP margin at 20.3% (H1 11 – 13.1%)
• Recurring Net Profit attributable to equity holders LKR 109mn after adjusting for LKR 20.8mn of profit on disposal of long term investments (H1 11-LKR 14mn)
• Forward PER 10.5x (Annualised EPS for FY 2012E- LKR 0.40)
• PBV 1.65x (NAV per share LKR 2.54)
• Manufacturing sector multiples – PER 15.8x , PBV 2.2x
http://www.news360.lk/business-finance/sierra-cables-plc-sees-increase-revenues-in-1h-of-2012

ROYAL CERAMICS LANKA PLC- RCL
• Q3 FY 12 Revenue increased 27% YoY to LKR 2.13bn (Q3 FY 11 – LKR 1.67bn)
• Gross Profit increased 31% YoY to LKR 1.03bn (Q3 FY 11 – LKR 786mn)
• GP margin at 48% (Q3 FY 11 – 47%)
• Recurring Net Profit attributable to equity holders LKR 598mn (Q3 FY 11-LKR 413mn)
• Forward PER 9.42x (EPS for FY 2012E- LKR 14.15)
• PBV 2.3x (NAV per share LKR 56.97)
• Manufacturing sector multiples – PER 15.0x , PBV 2.1x

PEOPLE’S LEASING COMPANY PLC – PLC
• We revised our HP and lease growth assumptions for PLC to 42% each (previous leasing 20%, HP 10%)
• The growth revisions reflects the higher than expected growth in loan book during the first 9 months.
• Rates for FY 2013E are also revised in account of expected rise in interest rates
• Accordingly, the revised after tax recurring profit figures are : FY 2012E – LKR 3.1bn (previous LKR 2.9bn) FY 2013 E – LKR 4.1bn (previous- LKR 4.0bn)
• Revised EPS numbers are : FY 2012E – LKR 2.25 (previous LKR 2.16) , FY 2013E – LKR 2.50 (LKR 2.49)
• Stock is now trading at 14% below the IPO price
• PER ( 2012E earnings) – 6.6x
• PBV (2012E) – 1.3x
• Sector PER – 12.7x, PBV – 2x

well done, sriranga, i really value your effort.

Sriranga Thank you for sharing.

LANKA FLOORTILES PLC – TILE
• Net Revenue for Q3 FY 12 increased 6.4% YoY to LKR 831mn, Export sales dropped 45% YoY and Local sales grew 9.7% (Q3 FY 11 – LKR 780mn)
• GP margin at 35% (Q3 FY 11 – 37%)
• Net Profit recorded at LKR 140mn (Q3 FY 11-LKR 140mn)
• Net profit for 9 months declined from LKR 354mn to LKR 284mn, due to partially shutting down of factory in May for expansions, technical defects in the new kiln and labour unrest in two occasions
• Forward PER 10.08x (EPS for FY 2012E- LKR 7.36)
• PBV 1.5x (NAV per share LKR 47.09)
• Manufacturing sector multiples – PER 14.1x , PBV 2.0x

DFCC BANK – DFCC
• 3M FY 2012E – net profit LKR 2.2bn, up 43% YoY
• Rise in bottom line mainly attributable to rise in other income and fall in taxes
• Avg monthly loan disbursements – ~ LKR 2.5bn
• Loan book has grown ~ LKR 22bn during the first 9 months
• Rise in loan book funded by both deposits ~ LKR 10bn, borrowings ~ LKR 10bn
• Gross NPLs have fallen to to 4.4% by December 2011 from 6.6% in June 2011
• PER (based on LKR 10.81 annualized earnings) – 9.5x
• PBV – 1.1x (NAVS LKR 94.49)

SERENDIB HOTELS PLC -SHOT
• Q3 FY 12 revenue down 7% to LKR 229.9mn
• Gross profit down 6% to LKR 172.0mn
• Other operating income LKR 28.7mn
• Net profit up 105% to LKR 32.4mn
• PER– 15x (Forward EPS FY 12E – LKR 1.50)
• NAV per share – LKR 12.78
• PBV - 1.72x
• Sector PER- 24.1x
• Sector PBV- 1.6x

DOLPHIN HOTELS PLC
• Q3 FY 12 revenue up 23% YoY to LKR 148.3
• Gross profit up 24% YoY to LKR 109.5mn
• Other income and gains up 2124% YoY to LKR 15.7mn
• PBT up 3409% YoY to LKR 33.5mn
• PAT up 526% YoY to LKR 28.6mn
• PER- 52.6x (Forward EPS FY 12E –LKR 0.65)
• NAV per share – LKR 23.45
• PBV – 1.5x
• Sector PER- 24.1x

Hemas Holdings PLC- HHL
• Q3 FY 12 revenue up 15.2% to LKR 5.26bn
• Gross profit up 12.0% to LKR 1.69bn
• Profit before tax up 19.8% to LKR 454.51mn
• Profit attributable to shareholders up 12.6% to LKR 350.5mn
• Profit attributable to shareholders for 9 months down by 6.9% to LKR 836.98mn
• PER– 12.4x (based on ttm EPS – LKR 2.17)
• PER based on BRS forecast- 13.64x (based on forecast EPS of LKR 1.98)
• NAV per share – LKR 18.52
Compiled by Bartleet Religare Securities
http://www.news360.lk/business-finance/corporate-earnings-3112

Thanks a lot.

CENTRAL INDUSTRIES PLC – CIND
• Revenue for Q3 FY 12 increased 32% YoY to LKR 432mn (Q3 FY 11 – LKR 326mn)
• Gross profit growth 5.5% YoY to LKR 82mn (Q3 FY 11-LKR 77mn)
• GP margin at 18.8% (Q3 FY 11 – 23.6%)
• Net Profit recorded at LKR 25mn, deleted margin 5.7% (Q3 FY 11-LKR 23mn, deleted margin 7.1%)
• Forward PER 7.5x (EPS for FY 2012E- LKR 9.20)
• PBV 0.81x (NAV per share LKR 85.13)
• Manufacturing sector multiples – PER 13.3x , PBV 1.9x

AITKEN SPENCE PLC – SPEN
• Revenue for Q3 FY 12 increased 29.7% YoY to LKR 8.06bn (Q3 FY 11 – LKR 6.21bn)
• Profit Attributable to shareholders- Q3 FY 12 818.74mn up by 41.7%. for nine months LKR 1.95bn up by 20.16%
• EPS- Q3 FY 12 LKR 2.02. Annualized- LKR 6.41
• Forward PER 17.69x (Sector PER-15.0x)
• NBV- LKR 56.94
• PBV 1.99x (sector PBV- 1.5x)
• DPS- FY 11 LKR 1.00
• DY-0.88%

AITKEN SPENCE HOTEL HOLDINGS PLC- AHUN
• Gross revenue for Q3 FY 12 SL sector – LKR 604mn
• Gross revenue for South Asian sector- LKR 1.8bn
• Net revenue for Q3 FY 12 up 17% YoY to LKR 2.3bn
• GP margin at 23% (GP margin Q3 FY 11- 22%)
• Indirect operating expenses down 4% YoY to LKR 689mn
• Finance expenses down 25% YoY to LKR 48mn
• PAT for Q3 FY 12 up 118% YoY to LKR 753mn
• PER- 16.6x (based on ttm EPS-LKR 3.78)
• NAV per share- LKR 28.32
• PBV- 2.2x
• Sector PER-23.3x
• Sector PBV-1.6x

CENTRAL FINANCE COMPANY PLC (CFIN)
• Profits to equity holders for the quarter – LKR 740mn, up 57% YoY
• Fall in corporate tax rate is the prime reason for the bottom line growth – 50% YoY saving
• PER (on annualized earnings) – 6.5x
• PBV (NAVS – LKR 120.98) – 1.3x
• BFI sector PER 11.5x, PBV 1.8x
Compiled by: Bartleet Religare Securities.
http://www.news360.lk/business-finance/corporate-earnings-1299

DIALOG AXIATA PLC – DIAL
• Revenue LKR 45.6bn (+9.2% YoY)
• Gross Profit LKR 20.5bn (+11.6%)
• Group EBITDA margin – 40% (up 3% YoY)
• Net profit 5.4bn (-15.2%)
• FY 2011 EPS – LKR 0.651
• PER 10.4x
• Revenue Growth – Dialog Company – +10%, DBN – +1%, DTV – +18%
• FY 2011 DPS – LKR 0.25
• Dividend Yield – 3.7%

KELANI CABLES PLC – KCAB
• Net Revenue declined 3.4% YoY to LKR 995mn for Q3 FY 12 (Q3 FY 11 – LKR 1.03bn)
• Gross Profit margin improved to 19.6% compared to 17.7% in Q3 FY 11
• EBIT recorded at LKR 87mn (Q3 FY 11 – LKR 87mn)
• Recurring Net Profit LKR 47mn (Q3 FY 11-LKR 47mn)
• Forward PER 7x (EPS FY 2012E- LKR 10.00)
• PBV 0.83x (NAV per share- LKR 83.57)
• Manufacturing sector multiples – PER 13.9x, PBV 2.0x

Courtesy: Bartleet Religare Securities
http://www.news360.lk/business-finance/sri-lanka-news-corporate-earnings-1207

Union Bank Corporate Earnings
• UBC (Bank) reported a bottom line of LKR 123mn (+201% YoY) for Q4 FY 11
• Staggering increase in Bank’s profitability for the quarter mainly came from increase in other income
• Top line growth (Bank) was 34% with LKR 612mn
• NII (Bank) recorded a growth of 14% to LKR 260mn
• Interest margin declined to 4.6% from 4.7% YoY
• We could see the declining NIMs scenario continue
• The number of UBC branches grew from 21 to 30
• Asset quality improved to 4.1% from 8.1%
• Net Loans and Advances (Bank) grew by 74% while total on balance sheet assets grew by 40% YoY
• NBVPS increased YoY to LKR 14.87 from LKR 13.62
• Capital Adequacy levels at are the highest in the industry – Tier 1 24.88% and Tier (1+2) 23.57%
• Trades at a PER of 20.5x (TTM) and a PBV of 1.2x
Compiled By: Bartleet Religare Securities
http://www.news360.lk/business-finance/union-bank-corporateearnings-1180