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Based on the context provided, here is the financial status and future outlook of Merchant Bank of Sri Lanka & Finance PLC:
Below information is provided by LankaBIZ (GPT) - Sri Lanka's First ever AI assistance for Stock Market and Research. Click below link to ask questions about any listed company in Sri Lanka.
www.lankabizz.net
Financial Status as of 31st December 2023:
The company's income for the period ended 31st December 2023 was LKR 1,834,276,000, which shows a 2.5% increase from the previous year's income of LKR 1,789,908,000.
The financial statements have been prepared in accordance with LKAS 34 - 'Interim Financial Reporting'.
The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual financial statements.
The staff strength of the company and the group as of 31st December 2023 were 785 and 967 respectively, which is a decrease from the previous year's staff strength of 893 and 1,136.
The percentage of shares held by the public as of 31st December 2023 was 15.50%, with the number of public shareholders being 10,926.
Future Outlook:
The company has a credit rating of 'BBB+(lka)' with a stable outlook, which suggests a stable financial future as per the rating agency's assessment.
The company has made changes to its business model for managing its financial assets and financial liabilities, which could indicate a strategic shift in how the company plans to handle its finances moving forward.
It is important to note that for a comprehensive analysis of the company's future outlook, one would typically look at various factors, including market trends, economic conditions, regulatory changes, and the company's strategic initiatives. However, such detailed analysis is not available within the provided context. For a more in-depth understanding of the company's future prospects, one would need to review additional data, such as management discussions, market analysis, and forward-looking statements, which are not included in the context provided.
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