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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 15-Nov-2012 Interim financial statements 30-09-2012

15-Nov-2012 Interim financial statements 30-09-2012

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sriranga

sriranga
Co-Admin
KOTAGALA PLANTATIONS, E B CREASY & COMPANY , SAMSON INTERNATIONAL, LANKA CERAMIC , CEYLON TEA SERVICES, RAMBODA FALLS , HYDRO POWER FREE LANKA, ACL CABLES , CITRUS LEISURE , KELANI CABLES , CENTRAL INDUSTRIES, ARPICO FINANCE COMPANY , COLOMBO DOCKYARD , DISTILLERIES COMPANY , ASIA CAPITAL , SIERRA CABLES, SINGER FINANCE (LANKA) , SERENDIB LAND, INDUSTRIAL ASPHALTS , MERCANTILE INVESTMENTS AND FINANCE , SINGER SRI LANKA , NATION LANKA FINANCE, THE NUWARA ELIYA HOTELS COMPANY, LAKE HOUSE PRINTERS AND PUBLISHERS , CEYLON TEA BROKERS, SINGER INDUSTRIES (CEYLON) , BOGALA GRAPHITE LANKA , KOTMALE HOLDINGS , PALM GARDEN HOTELS, ACL PLASTICS , RIVERINA HOTELS, RENUKA HOLDINGS, COCO LANKA, LANKA ORIX LEASING COMPANY, BLUE DIAMONDS JEWELLERY WORLDWIDE, BAIRAHA FARMS , CONVENIENCE FOODS (LANKA ), CITIZENS DEVELOPMENT BUSINESS FINANCE, EDEN HOTEL LANKA , ALLIANCE FINANCE COMPANY, LANKEM CEYLON , LANKEM DEVELOPMENTS , THE COLOMBO FORT LAND & BUILDING COMPANY , AGALAWATTE PLANTATIONS , HUNTERS & COMPANY, BROWN & COMPANY , CENTRAL INVESTMENTS & FINANCE, PC HOUSE , FIRST CAPITAL HOLDINGS , N D B CAPITAL HOLDINGS, PC PHARMA, PCH HOLDINGS , MTD WALKERS , HEMAS POWER , SWADESHI INDUSTRIAL WORKS & RENUKA AGRI FOODS

Interim Financial Statements for the period ended 30-09-2012 have been uploaded on the CSE website.

http://sharemarket-srilanka.blogspot.co.uk/

hunter

hunter
Moderator
Moderator
Thanks SRI

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics
thanks ranga...

good performances by KOTA.

Fresher


Moderator
Moderator
ALLI does it again.

kasun333


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
LALU u make me crazy baba

dineshfernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Many companies suffer from high interest rates and rupee devaluation.

Majority of the companies reported decline in their profits.

Eg: PCH, BFL, CFLB, LCEY, ACAP, ACL and plenty more.

Very tough period for majority of them.

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics
But most of are done better i think, under this tough period.
It is interesting to see hari's latest update about accumulative earnings..

@dineshfernando wrote:Many companies suffer from high interest rates and rupee devaluation.

Majority of the companies reported decline in their profits.

Eg: PCH, BFL, CFLB, LCEY, ACAP, ACL and plenty more.

Very tough period for majority of them.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@dineshfernando wrote:Many companies suffer from high interest rates...
Very tough period for majority of them.
Valid point, Dinesh... Look at CFLB, for example: PBIT (profit before interest and tax) has increased from 395 million to 526 million, i.e. an increase of 33% from last year's Q2. But PAT (profit after tax) is lower, because interest cost has increased by 177 million!

Be wary of companies that have too much debt. We need to look closely at the Cash Flow Statement, especially 'Cash & Cash Equivalents at the end of the period'; if the figure is negative, think again before investing.

sriranga

sriranga
Co-Admin
High interest rates dragged down profits of Singer (Sri Lanka) PLC although revenue grew 21 percent in a tough macroeconomic environment.

"Singer Sri Lanka Group’s revenue rose by Rs. 3.2 billion to Rs. 18.7 billion, at the end of the third quarter. This is an increase of 21% when compared to its results from the same period last year. The Group’s retail operation, which comprises Singer Plus, Singer Mega, Sisil World and Singer Homes, recorded revenues of Rs. 17.5 billion. Singer Finance, the Group’s pioneering financial services subsidiary, continued its spectacular climb, with revenues increasing by 46%," the company said in a statement.

"These results were despite a challenging macroeconomic environment. The sharp devaluation of the rupee, together with the increase in interest rates, electricity costs and fuel prices had a significant negative impact on consumer sentiments and the overall economy. In addition, the drought destroyed part of the harvest and resulted in power cuts and shortages of water for consumers in some districts further affecting the consumers.

"While revenues increased, the growth in bottom line was impacted by interest expenses. The group net profit for the period was Rs. 887 Million, which was a marginal 2% growth over prior year while the Company Net Profit for the Period was Rs. 761 Million, a marginal decline of 2%.

"Singer volumes grew on most product lines with refrigerators increasing by 17% over the same period of the preceding year, while sales of domestic and artisan sewing machines improved by 9%. Other product lines that showed impressive growth included fans (40%), microwave ovens (171%), air conditioners (33%), kitchen appliances (41%), irons (82%) and rice cookers (54%).

"Validating its commitment to giving customers the very latest in international products and brands, Singer Sri Lanka also saw substantial growth in the sales of new products. These categories included cameras, mobile phones, water purifiers, sprayers, induction cookers, gas cylinders, air coolers and Blu Ray players. The Group offers customers unbeatable choice and quality in these product categories and others, reflecting its reliance on a multi-brand marketing strategy.

"With the island’s most extensive retail network, Singer Sri Lanka gives its customers the freedom of shopping at a conveniently located outlet.

"Together with the industry’s most widespread service network, the Group is able to offer an unbeatable value proposition. The Group’s reputation for ‘trusted excellence’ and its dedication to continuously improving its product and service offerings form the foundation of its success, allowing it to thrive in spite of challenging market conditions."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=66119

http://sharemarket-srilanka.blogspot.co.uk/

sriranga

sriranga
Co-Admin
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.
http://www.dailynews.lk/2012/11/16/bus05.asp

http://sharemarket-srilanka.blogspot.co.uk/

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Nov 16, 2012 (LBO) - Profits at Distilleries Corporation of Sri Lanka, which has interests in alcohol, insurance, plantations and telecom was flat at 1.6 billion rupees in the September 2012 quarter from a year earlier.

The group reported earnings of 5.39 rupees per share. For the six months to September the group reported earnings of 10.26 rupees per share on total profits of 3.07 billion rupees, up from 2.8 billion a year earlier.

At the core alcohol firm revenues rose 14.7 percent to 4.1 billion rupees, cost of sales rose 14.9 percent to 2.2 billion rupees and gross profits also gained 14.6 percent to 1.9 billion rupees.

Investment income rose steeply to 2.2 billion rupees from 522 million rupee a year earlier.

At group level investment income rose 10 percent to 465 million rupees, indicating that the profits may have come from internal transfers.

A breakdown of profits by sector for the nine months show that beverages brought 3.5 billion rupees in pre-tax profits, unchanged from a year earlier.

Pre-tax profits at plantations were 141 million rupees up from 131 million, telecoms loss 133 million rupees, compared to a profit of 159 million a year earlier. Others classified as diversified made 420 million rupees, down from 654 million a year earlier.
http://lbo.lk/fullstory.php?nid=1892769310

1215-Nov-2012 Interim financial statements 30-09-2012 Empty NDB Capital profits surge 287% Tue Nov 20, 2012 12:39 am

sriranga

sriranga
Co-Admin
NDB Capital Holdings PLC (NCAP) posted strong third quarter results recording a net profitability of LKR 206.9 million at the company level. This was almost a threefold jump in profitability compared to a Net Profit of LKR 53.4 million recorded during the same quarter the previous year, the company announced yesterday (19).

"Net Profit for the nine month period ended Sep 30, 2012 resulted in a growth of 159% which amounted to LKR 326 million compared to previous year’s figure of LKR 125.5 million. At group level, the Net Profit for the first nine months of 2012 was LKR 353.1 million, a 68.5% growth over the same period, the prior year.

This significant growth in profitability was achieved due to a series of strategic initiatives undertaken earlier in the year. The company was re-launched in June 2012 positioning itself as the only listed full service investment bank in the country offering investment banking, wealth management, stock broking and private equity. The increase in profitability at the company level was driven by a prudent asset allocation policy and efficient investment strategies.

During the period ended Sep 30, 2012, the company made strategic investments to the value of approximately LKR 890 million to acquire 100% stakes in NDB Investment Bank Limited (NDBIB), NDB Stockbrokers (Private) Limited and an additional 5% stake in Aviva NDB Insurance PLC."

Chairman, Ashok Pathirage commenting on the performance said, "NCAP’s performance was commendable despite the tough conditions which prevailed both in the money market and the capital market".

NCAP recently announced the signing of a Share Sale and Purchase Agreement with American International Assurance Company Limited (AIA) of Hong Kong, one of the largest insurance companies in the world with an exclusive focus on the Asia-Pacific region to sell its shareholding in Aviva NDB Holdings Lanka (Private) Limited (Aviva NDB Holdings) together with Aviva Asia Holdings (Private) Limited. The net receipt of US$ 59 Mn from the intended sale is expected to be earned by end 2012, subject to the necessary regulatory and legal clearances.

NCAP is a 99.6% owned subsidiary of NDB Bank."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=66445

http://sharemarket-srilanka.blogspot.co.uk/

1315-Nov-2012 Interim financial statements 30-09-2012 Empty Sri Lanka graphite firm net up 11-pct Wed Nov 21, 2012 3:13 pm

sriranga

sriranga
Co-Admin
Nov 22, 2012 (LBO) - Sri Lanka's Bogala Graphite, a unit of Germany's Graphitwerk Kropfmuhl said profits rose 11 percent to 16.8 million rupees in the September 2012 quarter, amid a surge in revenues and gross profits.

The firm reported earnings of 36 cents per share in the quarter. For the nine months to September the firm reported earnings of 63 cents per share on profits of 29 million rupees, which were dampened by a 28 million rupee forex loss.

In the September quarter revenues rose 61 percent to 155 million rupees and cost of sales orse at a slower 43 percent to 104 million rupees allowing gross profits to surge 117 percent to 50 million rupees.

Bogala Graphite's distribution expenses rose from 10 to 17 million rupees and admin expenses to 13 million rupees from 9.4 million rupees a year earlier.

Last year September quarter profits were boosted by a 15.9 million rupee forex gain. The firm has a Euro denominated loan.
In 2012 Sri Lanka's rupee, which is pegged to the US dollar, weakened to in the first half but gained slightly during the third quarter.

In the third quarter the firm reported 168,000 rupees in forex gains.

There has been renewed interest in mining and exporting Sri Lanka's vein graphite, which is supposed to be of high purity. Sri Lanka's Board of Investment has this year approved the setting up of two foreign invested graphite export firms.
http://lbo.lk/fullstory.php?nid=1695652653

http://sharemarket-srilanka.blogspot.co.uk/

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Mercantile Investments and Finance PLC (MIF) profits fell sharply on rising operating expenses and falling income from stock exchange investments.

Profit after tax fell 34.2 percent to Rs. 417 million during the six months ended September 2012 from Rs. 634 million a year earlier, while profit before tax fell 31.72 percent to Rs. 467 million.

While MIF’s net interest income surged 70 percent to Rs. 211 million, its profitability was hit by a 64 percent fall in income from share market investments amounting to Rs. 369 million.

Operating expenses increased 29 percent on increasing volumes and expanding branch network.

"There was substantial growth in the Balance Sheet, with advances growing 36 percent Rs.12.1 billion and deposits growing 25 percent to Rs.6.6 billion with total assets growing 23 percent to Rs 19.4 billion," a statement from the company said.

"Despite a very difficult environment, with rising interest rates, slowing demand and the adverse effects of the drought, MIF was successful in improving the credit quality of it’s lending portfolio, with gross and net NPL ratios significantly improving to 2.52 percent and 2.24 percent from 4.25 percent and 3.85 percent respectively from last year. Net NPL values improved as well from Rs.329 million to Rs.287 million.

"Like others in the finance company sector, MI too had to overcome numerous market challenges in this period to maintain anticipated performance levels. The continued rise in market interest rates that reached levels beyond 25 percent had a negative effect on the lending business especially since it stressed borrowers to seek finance for their purchases such as vehicles, machinery etc. On the other hand managing cost of funding was a challenge with the persistent rise in rates on borrowings while deposit mobilization continued to be highly competitive due to the price sensitiveness of customers," the company said.

Gerard Ondaatjie, Managing Director of MIF said, "I am very pleased with the progress this year, especially the growth and contribution from core business activities. While increasing our Balance Sheet, we have also ensured that credit quality and the recoveries process were streamlined. I am confident that we have now set the basis for healthy growth in the years to come."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=66583

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