First Capital reports Rs.1.1bln PAT in 9-mths, growth momentum continues
View(s):First Capital Holdings PLC has reported a profit after tax of Rs. 1.09 billion for the 9 months ended 31 December 2014 indicating a stable growth trajectory, it said in a statement.
The company, which offers a range of investment banking products and services across the financial spectrum, saw an increase in profit after tax, in comparison to Rs. 262.9 million reported for the same period last year.
Commenting on the Group’s performance in the period under review, Chief Executive Officer of First Capital Holdings PLC, Dilshan Wirasekara said:
“Strategic decisions and concentrated growth initiatives have enabled us to capture areas of advancement and build on our business footprint. We are both pleased and grateful that we have grown to gain the support and trust of our investor base.”
“Leveraging on favourable macro-economic conditions, a decline in secondary market interest rates and research-based decision making, First Capital Treasuries, the Group’s Primary Dealer Unit, cemented its position as a frontrunner in the Non-Banking Primary Dealer segment. First Capital Treasuries realised trading gains of Rs. 905 million during the period under review – driving an increase from Rs. 145 million reported during 2013/14,” the statement said.
Funds under management saw a four-fold increase to Rs. 4.2 billion, bearing testament to the unit’s progression during the period. The period under review concluded with the First Capital Wealth Fund establishing itself as the best performing fixed income Unit Trust fund in Sri Lanka. The Stock Broking and Margin Trading units also contributed positively towards the Group’s results during the period under review, it said.
For nearly 30 years, First Capital Holdings PLC says it has been a leading investment bank operating in Colombo, Matara and Kandy.