Significant capital gains through judicious investments in government securities have generated exponential profit growth in the first six months of 2009-10 for First Capital Holdings PLC, the company said.
Interim financial statements filed with the Colombo Stock Exchange this week report that profits after tax grew eight-fold in the six months ending 30th September 2009 to Rs.352.6 million and profit attributable to equity holders of the parent company was up 848 per cent to Rs 296.7 million. The press release quoted a company spokesman as saying the growth was the result of the exceptional performance of the company’s Primary Dealer arm, First Capital Treasuries Ltd.
“The near perfect timing of First Capital’s investments in high-yielding government securities resulted in significant capital gains as the government pursued its goal of easing monetary policy,” he added. |
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