LB Finance PLC recorded a 4% growth in net profit for the six months ended 30 September 2009 to Rs.163 million from Rs.157 million for the corresponding period in 2008. According to the company’s interim financial statements, income for the period under review grew by 19% to Rs.1.9 billion from Rs.1.6 billion the previous year. Interest income which grew by 21% to Rs.1.8 billion for the six months ended 30 September 2009 contributed to the higher net profit.
However, staff costs increased by 11% for the period under review to Rs.138 million from Rs.124 million last year while general and administration expenses also increased by 32% to Rs.171 million.. The company’s cash flow statement shows that cash generated from operations for the six month period in 2009 increased to Rs.495 million from Rs.175 million the previous year. |
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