Mercantile Investments and Finance PLC clinches silver at CA Sri Lanka Annual Report Awards

Saturday, 29 December 2012 00:00 -     - {{hitsCtrl.values.hits}}

Mercantile Investments and Finance PLC’s (MI) 2011/12 annual report won the silver award in the ‘Finance Companies Sector’ at the recently held 48th Annual Report Awards organised by the Institute of Chartered Accountants of Sri Lanka.

The 2011/12 annual report also won the silver award for its cover photo and design at the recently held Arc Awards in New York, in the financial services – general category, while winning a bronze for the overall report at the League of American Communication Professional (LACP) in the financials diversified services category, held again in New York earlier during this period.

The company has continued to win accolades for more than a decade for its transparency and disclosure, producing annual reports even when the company was not quoted on the stock exchange.

MI is probably the only company to have won twelve consecutive gold awards under the finance company sector, at the annual reports awards organised by the Institute of Chartered Accountants Sri Lanka.

MI reported impressive results in terms of its financial performance for the six months ended 30 September 2012, posting a profit after tax of Rs. 417 million. Profit before tax for the same period was Rs. 467 million.

MI is a licensed finance company registered under the Finance Business Act No. 42 of 2011 and quoted in the Colombo Stock Exchange. The company has gone from strength to strength in its field of financing business, on the verge of reaching to its 50th successful year in business operations.

The 16 branches are well distributed around the economic centers of the country with further expansion planned in 2013.