Commercial Credit ups 1H PAT by 20% to Rs. 346 m

Wednesday, 27 November 2013 00:20 - - {{hitsCtrl.values.hits}}

Commercial Credit and Finance PLC, announced a Profit-After-Tax of Rs. 345.9 million for the six months ended 30 September 2013. This is 20.2% increase from the Rs. 287.6 million recorded during the first half of the previous financial year. The Net Interest Income for the six months ended 30 September 2013 was Rs. 1.8 billion, up 51% from last year’s Rs. 1.2 billion while the Interest income was Rs. 3.1 billion up 72.6% from the previous year’s Rs. 1.8 billion. The company’s total asset base currently stands at approximately Rs. 21.5 billion, up Rs. 3.2 billion as against 31 March 2013, an increase of 17.7%. Net Assets per Share now stand at Rs. 7.55 up by Rs. 1.45 as against the financial year ended 31 March 2013. Its deposit base is Rs. 16.0 billion up 21.4% as against 31 March 2013. Its lending portfolio stood at Rs. 16.5 billion, an increase of 13.7% during the half year ending 30 September 2013. The company paid an Interim Dividend of Rs. 0.50 per share for the financial year 2013/14 amounting to a total of Rs. 119 million on 10 October 2013. This followed the capitalisation of reserves effected by the company in March 2013 on the basis of one share for every 10.9 shares held. Commercial Credit is one of Sri Lanka’s leading financial service organisations registered with the Monetary Board of the Central Bank of Sri Lanka, and, has been in existence for over thirty years. It has a service network of over 64 locations spread across all districts of the island.

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