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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » LFIN - 1Q2011 Interim Report

LFIN - 1Q2011 Interim Report

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21LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Wed Jul 20, 2011 10:23 pm

windi5


Moderator
Moderator
This is a good sign, other financial institutes will also show good results. Last year budget was a very friendly one for Financial institutes. Now they seem reaping the yield.Most benefited fields in post war SL are Financial and Tourism.

22LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Wed Jul 20, 2011 10:31 pm

windi5


Moderator
Moderator
But personally i dont like the business model of LFIN.They got lots of small places like boutiques, where they do all the business like leasing, pawning etc,.Interests are very high, they charge even an insurance charge for every pawning transaction, even if is for one day. they are open even on Sunday,targeting poor garments girls.

23LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Wed Jul 20, 2011 10:39 pm

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@mono wrote:it's pretty obvious that this share is worth at least 225

Any rationality to support this figure? LFIN has only BVP of 42.84. While EPS has gone down to 5.07 from 5.65 in March, with a marginal improvement in operating profit.

Show us how it is "pretty obvious"?

24LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Wed Jul 20, 2011 11:19 pm

mono


Vice President - Equity Analytics
Vice President - Equity Analytics
@Academic wrote:
@mono wrote:it's pretty obvious that this share is worth at least 225

Any rationality to support this figure? LFIN has only BVP of 42.84. While EPS has gone down to 5.07 from 5.65 in March, with a marginal improvement in operating profit.

Show us how it is "pretty obvious"?

Granted that their PBV is very high. But considering the speed at which LFIN is growing or has grown you can't expect low PBV's

EPS for the last 4 quarters is 17.25. are you telling me this company can't trade at a PE of 13. besides, their core business is pretty secure. And as long as that hold they'll keep on earning around 4.5-6 EPS per quarter. It's not like they're using one off gains to show high eps.

That seems pretty obvious to me.

25LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Wed Jul 20, 2011 11:31 pm

ashlee


Manager - Equity Analytics
Manager - Equity Analytics
So long as PABC is there, I do not think the management would want another bank in the group.. Rather, they would strenghten PABC as a commercial bank and LFIN as a financial company..

26LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 7:46 am

Light of Hope


Vice President - Equity Analytics
Vice President - Equity Analytics
my advice, don't buy shares after seen these reports. because that's exactly what the people holding these wants us to do and dump theirs on us at a small rally.

last quarter for example DFCC and SAMP showed good results, but see where there prices now. the next day after results were released the prices started declining after a small hike.

27LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 8:15 am

RockStock


Manager - Equity Analytics
Manager - Equity Analytics
some people in this forum thinks CSE doesn't deserve a P/E ratio of 13-15 While having a predicted GDP growth more than 7-8%, and they wants and wishes stocks to decline more to around P/E of 8-9. But they accept when US and European Market stocks trade at P/E of 15-17 with GDP growth rate at less than 2% per annual.

This like Banki Moon turns deaf ears to well evidenced war crimes of USA and Israel in Iraq,Ghasa etc and screaming daily accusing Sri Lanka Human right Violations based on fake reports and videos made by terrorist supporters .


P.S.- I'm not talking about stocks like CLND,GREG, etc

28LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 8:48 am

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
CSE doesn't represent the Sri Lankan economy. It's only a very few companies.

29LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 9:15 am

RockStock


Manager - Equity Analytics
Manager - Equity Analytics
@duke wrote:CSE doesn't represent the Sri Lankan economy. It's only a very few companies.

duke, About Sri Lanka economy,

Larger percentage of SL GDP comes from Service sector, and then Industry and last to follow Agriculture. If you look at past figures GDP growth rate of agricultural sector,it was always below average and last quarter it was negative, But as a whole SL recorded nearly 8% growth rate due to above average growth rate of other 2 sectors.

So every one in SL know that there are not many agricultural firms listed in CSE(Which showed relatively low growth in last quarters) but many high cap firms belongs to Service sector and Indusrty sector are already listed in CSE. I think at the moment CSE well represents Sri Lanka's growing economy

30LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 9:17 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@Light of Hope wrote:my advice, don't buy shares after seen these reports. because that's exactly what the people holding these wants us to do and dump theirs on us at a small rally.

last quarter for example DFCC and SAMP showed good results, but see where there prices now. the next day after results were released the prices started declining after a small hike.

I'd say around 10amwe should be able to know what is going on. But I'm sort of in agreement with you about this.

31LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 9:22 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@RockStock wrote:
@duke wrote:CSE doesn't represent the Sri Lankan economy. It's only a very few companies.

duke, About Sri Lanka economy,

Larger percentage of SL GDP comes from Service sector, and then Industry and last to follow Agriculture. If you look at past figures GDP growth rate of agricultural sector,it was always below average and last quarter it was negative, But as a whole SL recorded nearly 8% growth rate due to above average growth rate of other 2 sectors.

So every one in SL know that there are not many agricultural firms listed in CSE(Which showed relatively low growth in last quarters) but many high cap firms belongs to Service sector and Indusrty sector are already listed in CSE. I think at the moment CSE well represents Sri Lanka's growing economy

yep

32LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 10:38 am

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@mono wrote:
@Academic wrote:
@mono wrote:it's pretty obvious that this share is worth at least 225

Any rationality to support this figure? LFIN has only BVP of 42.84. While EPS has gone down to 5.07 from 5.65 in March, with a marginal improvement in operating profit.

Show us how it is "pretty obvious"?

Granted that their PBV is very high. But considering the speed at which LFIN is growing or has grown you can't expect low PBV's

EPS for the last 4 quarters is 17.25. are you telling me this company can't trade at a PE of 13. besides, their core business is pretty secure. And as long as that hold they'll keep on earning around 4.5-6 EPS per quarter. It's not like they're using one off gains to show high eps.

That seems pretty obvious to me.

Truth is bitter!

It is trading at 4 times of book value. I can remember someone wrote here BVPS is the most important factor in valuing finance companies as their business is related to disbursement of funds. Can you remember who that was.

Further, see it has a wonderful order book at the moment.

33LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 10:49 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@Academic wrote:
@mono wrote:
@Academic wrote:
@mono wrote:it's pretty obvious that this share is worth at least 225

Any rationality to support this figure? LFIN has only BVP of 42.84. While EPS has gone down to 5.07 from 5.65 in March, with a marginal improvement in operating profit.

Show us how it is "pretty obvious"?

Granted that their PBV is very high. But considering the speed at which LFIN is growing or has grown you can't expect low PBV's

EPS for the last 4 quarters is 17.25. are you telling me this company can't trade at a PE of 13. besides, their core business is pretty secure. And as long as that hold they'll keep on earning around 4.5-6 EPS per quarter. It's not like they're using one off gains to show high eps.

That seems pretty obvious to me.

Truth is bitter!

It is trading at 4 times of book value. I can remember someone wrote here BVPS is the most important factor in valuing finance companies as their business is related to disbursement of funds. Can you remember who that was.

Further, see it has a wonderful order book at the moment.

you're confusing banks with other financial institutions, especially a leasing & finance company. And you are also confusing order books with value.

34LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 11:02 am

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@mono wrote:
@Academic wrote:
@mono wrote:
@Academic wrote:
@mono wrote:it's pretty obvious that this share is worth at least 225

Any rationality to support this figure? LFIN has only BVP of 42.84. While EPS has gone down to 5.07 from 5.65 in March, with a marginal improvement in operating profit.

Show us how it is "pretty obvious"?

Granted that their PBV is very high. But considering the speed at which LFIN is growing or has grown you can't expect low PBV's

EPS for the last 4 quarters is 17.25. are you telling me this company can't trade at a PE of 13. besides, their core business is pretty secure. And as long as that hold they'll keep on earning around 4.5-6 EPS per quarter. It's not like they're using one off gains to show high eps.

That seems pretty obvious to me.

Truth is bitter!

It is trading at 4 times of book value. I can remember someone wrote here BVPS is the most important factor in valuing finance companies as their business is related to disbursement of funds. Can you remember who that was.

Further, see it has a wonderful order book at the moment.

you're confusing banks with other financial institutions, especially a leasing & finance company. And you are also confusing order books with value.

Okay! A genius explanation. I learned it well. + rep

35LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 11:19 am

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
What's the difference between a bank and a finance company? Banks are well regulated and need to fulfill certain criteria like having enough funds.
But banks also do everything finance companies do. Lending and leasing. Now banks are doing pawning, lending even going to the smallest people, I don't think there's even a scale of customer difference in Sri Lanka.

36LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 12:00 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@duke wrote:What's the difference between a bank and a finance company? Banks are well regulated and need to fulfill certain criteria like having enough funds.
But banks also do everything finance companies do. Lending and leasing. Now banks are doing pawning, lending even going to the smallest people, I don't think there's even a scale of customer difference in Sri Lanka.

As i understand, banks basically collect assets from the public in form of savings accounts and they lend this money at whatever rate. more savings accounts you have the more you can lend in the future. that is why book value is most important to banks. It gives you a good idea about what the hell these guys can do in the future. a finance company only gains assets assets through profits. and it is often their performance as a company that they use to convince banks or what not to lend them more money for them to offer more leases etc... Of course this not to say that leasing companies don't have capital adequacy and stuff like that.

37LFIN - 1Q2011 Interim Report - Page 2 Empty Re: LFIN - 1Q2011 Interim Report Thu Jul 21, 2011 1:17 pm

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
There are some who cannot identify "Kabaragoya" and Thalagoya".

There are some who can identify "Kabaragoya" and Thalagoya".

There are some who call "Kabaragoya" as Thalagoya" when they want to slaughter it.

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