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First Capital records Rs. 231 Mn PAT 2016/17

Investment banks in Sri Lanka, Investment banking in Sri Lanka, Investment companies in Sri Lanka, Share market investment in Sri Lanka, Investment in Sri Lanka, Stock brokers in Sri Lanka, Corporate debt structuring in Sri Lanka, Fixed income securities in Sri Lanka, Fixed income bonds in Sri Lanka, Investment bank in Sri Lanka, Margin trading in Sri Lanka, Wealth management in Sri Lanka
Director / Group CEO, Dilshan Wirasekara

Colombo 19th June 2017: First Capital Holdings PLC, a full service investment bank providing a diverse range of advisory services and financial products through its subsidiaries, (First Capital Group) reported a consolidated profit after tax of Rs. 231Mn for the year 2016/17 compared to Rs. 47Mn in the previous year.

The Group’s primary dealer arm, First Capital Treasuries PLC, was the main contributor towards the financial results recording a profit after tax of Rs. 343Mn for the year 2016/17 (2015/16 – Rs. 11Mn) attributed to net interest income and fair valuation gains on government securities. First Capital Treasuries, is the pioneer non-bank Primary Dealer appointed by Central Bank in 1982 and is listed on the Colombo Stock Exchange. Further, the company’s credit rating was reaffirmed by ICRA Lanka as A- with stable outlook.

The capital markets advisory of the Group, First Capital Limited, which specialises in structuring and placement of corporate debt securities, successfully mobilised Rs. 12.4Bn through structuring and placement of corporate debt securities. Despite the above performance First Capital Limited was negatively affected as a result of higher funding cost and fair valuation losses on trading securities.

The performance of the Group’s subsidiaries were further impacted due to damped investor sentiments as a result of the proposed changes to taxation via the budget proposal – 2017.

“Despite the setback experienced in the preceding quarters, the Group is optimistic in its outlook and have planned several calculated improvements to its operations” said Director / Group CEO, Dilshan Wirasekara.

 

First Capital Holdings PLC (the Company or First Capital) is a full service investment bank providing a diverse range of advisory services and financial products.

We currently serve an array of companies, institutions, government agencies, high net worth individuals and retail clients both international and local, who seek truly objective advice, innovative solutions and execution expertise. We operate throughout Sri Lanka via offices in Colombo, Kandy, Matara and Kurunegala. Our global outreach continues to expand through institutional trading and investment product placement.

As a company listed on the Colombo Stock Exchange (CSE) since 1994 (Ticker: CFVF), we exemplify requisite financial transparency and governance standards.

Reflecting credit fundamentals including a robust capital structure, liquidity, risk controls and earnings profile, we are rated A- by ICRA Lanka Limited.

First Capital Holdings PLC reports Rs. 406Mn consolidated PAT for the first half of 2016/2017

First Capital Holdings PLC, reported significant growth in the first half of 2016/17 recording a consolidated turnover of Rs. 1.78Bn.  The investment bank’s consolidated profit after tax increased to Rs. 406Mn compared to Rs. 4Mn in the corresponding period of the previous year.

dilshan-wirasekara-ceo-first-capital-holdings-plc-2016

The group’s primary dealer arm, First Capital Treasuries PLC, was the leading contributor towards the financial results for the period under review.  The company reported a profit after tax of Rs. 371Mn for the 1st half of 2016/17 (2015/16 – loss after tax of Rs. 97Mn).

First Capital Treasuries, is the pioneer non-bank Primary Dealer appointed by Central Bank and is listed on the Colombo Stock Exchange.  Further, the company’s credit rating was reaffirmed by ICRA Lanka at “A-” with a stable outlook in September 2016.

The Capital Markets Advisory of the Group, First Capital Limited, which specialises in structuring and placement of corporate debt securities, successfully mobilised Rs. 6.8bn through listed debentures, asset backed securitisations and other corporate debt securities.

Research driven investment recommendations published by First Capital Equities (Private) Limited  the Group’s stockbroker business have collectively outperformed the broad market index ASPI and the liquid counter index S&P SL20 in the past 2 years.

“We are pleased with our performance to date and expect to navigate the unsettled market conditions with caution during the second half of the financial year.  The Group will continue to build on the current growth momentum across all its subsidiary businesses while expanding on research and equity advisory services” said Dilshan Wirasekara, CEO of First Capital Holdings PLC.

Company information –

First Capital Holdings PLC (First Capital Group) is an investment bank comprising of First Capital Treasuries PLC, First Capital Limited, First Capital Asset Management Limited, First Capital Equities (Private) Limited, First Capital Markets Limited and First Capital Trustee Services (Private) Limited.  The company’s Board of Directors comprises of Ms. Manjula Mathews – Executive Chairperson, Dinesh Schaffter – Managing Director, Eardley Perera, Ms. Minette Perera, Nishan Fernando and Chandana de Silva as Independent Directors.

The company is listed on the Colombo Stock Exchange and is rated “A-” with a stable outlook by ICRA Lanka.