JKSB forecasts LB Finance to post Rs. 1.4 billion profit in FY12

Fastest growing in the industry, LB Finance Plc is forecast to make a Rs. 1.4 billion post-tax profit in the current financial year (2011/12) according to John Keells Stock Brokers (JKSB).

The estimate is higher in comparison to Rs.1.02 billion profit achieved in 2010/11 financial year. In FY 2009/10 LB Finance’s profit was Rs. 500 million.The forecast by JKSB is carried in an earnings update on LB Finance, excerpts of which are below.