Aug 13, 2014 (LBO)- Sri Lanka's First Capital Holdings said profits in the first quarter ending June 2014 soared by 230 percent to 218 million rupees , benefiting from lower interest rates and higher trading volumes.
Sri Lanka's First Capital Holdings said profits in the first quarter ending June 2014 soared by 230 percent to 218 million rupees , benefiting from lower interest rates and higher trading volumes.
The group has recorded a turnover of 577 million rupees up 17 percent over the corresponding period of the last year, the company said in a Colombo stock exchange filling.
Net trading income for the three months increased by 71 percent to 254 million rupees.
“The Group’s leading subsidiary First Capital Treasuries Limited had continued to be the main contributor to revenue and profits in the period under review,” Manjula Mathews, Managing Director of First Capital Holdings was quoted in the media release.
“The declining interest rates presented opportunities with increased activity across the yield curve contributing to higher trading volumes.”
First Capital Treasuries Limited launched a medium to long term repurchase agreement called ‘Platinum Bond’ backed by Government Securities, raising a total fund in excess of 700 million rupees.
First Capital Treasuries is one of four non-bank primary dealers in the country.
Sri Lanka's First Capital Holdings said profits in the first quarter ending June 2014 soared by 230 percent to 218 million rupees , benefiting from lower interest rates and higher trading volumes.
The group has recorded a turnover of 577 million rupees up 17 percent over the corresponding period of the last year, the company said in a Colombo stock exchange filling.
Net trading income for the three months increased by 71 percent to 254 million rupees.
“The Group’s leading subsidiary First Capital Treasuries Limited had continued to be the main contributor to revenue and profits in the period under review,” Manjula Mathews, Managing Director of First Capital Holdings was quoted in the media release.
“The declining interest rates presented opportunities with increased activity across the yield curve contributing to higher trading volumes.”
First Capital Treasuries Limited launched a medium to long term repurchase agreement called ‘Platinum Bond’ backed by Government Securities, raising a total fund in excess of 700 million rupees.
First Capital Treasuries is one of four non-bank primary dealers in the country.
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