ESL profits up by 1239%

Amidst the background of a downward interest rate scenario on Fixed Income Securities and within competitive market conditions, Entrust Securities PLC (ESL) was able to record an increase in its earnings for the quarter ended 30th June 2014. The Company achieved a total comprehensive income of Rs. 81.9 Mn for the quarter ended 30th June 2014, which is a significant increase of 1239% in earnings when compared with Rs. 6.1 Mn recorded during the corresponding period last year. The total asset base has increased by 19.8% compared to 31st March 2014 and as at 30th June 2014 it reached to Rs. 14.9 Bn. The Shareholders' Fund recorded an improvement of 7.9% during the quarter under review reaching Rs. 1.09 Bn when compared with Rs. 1.01 Bn as at 31st March 2014. The Company's Risk Weighted Capital Adequacy Ratio on the sum of capital and reserves as at 31st March 2014 was at 19.89% which, was far above the minimum requirement of 8.0% as specified by the Public Debt Department of Central Bank of Sri Lanka and in compliance with regulatory requirements as well. The Earnings Per Share (EPS) on an annualised basis increased to Rs. 9.92 against Rs. 8.32 of previous year resulting an increased Net Assets Per Share value of Rs 33.17 as at 30th June 2014. The overall optimism was reflected in the Company’s share price as the market price increased from Rs 17.30 as at 31st March 2014 to Rs.
22.80 as at 30th June 2014. During the period under review the Entrust group of Companies undertook a restructuring process on 27th May 2014 and accordingly Entrust Securities PLC moved from the umbrella of Entrust Limited to Entrust Holdings Limited and the shareholding percentage continued to remain as 86.82%. This move will assist the new holding Company, i.e. Entrust Holdings Limited to add more kinetics into its overarching umbrella which, will augur well for the growth of Entrust Securities PLC.

source :http://www.cse.lk/cmt/upload_report_file/1105_1407987007252.pdf

Looks like they will make 10-12 per share this year. Last two quarters they made about 5.50 per share. I have a small quantity of esl but wish I had loaded this up.

This is potentially a 100 rupee stock in the medium term

Loku Loku percentage dammata EPS is only 2.

Jilmart madi.

there was big collection at last few days,also very illiquid share,with in next few days it will hit NAV 33 still massively undervalue comparing to CFVf

http://www.cse.lk/cmt/upload_report_file/1105_1407987007252.pdf

I saw this company branches spread island wide. This is good.