Ceylon FT: LB Finance saw net profits fall 30% year-on-year to Rs 796.9 million during the nine months ending December 2013, interim financial results showed.
Auction losses saw net operating income decline by 11% to Rs 3.17 billion.
Personnel expenses grew 28% to Rs 979.5 million, depreciation charges grew 6% to Rs 244.69 million and other operating expenses grew 10% to Rs 751.6 million.
Loans and receivables stood at Rs 17.5 billion as at end December 2013, against Rs 16.45 billion as at end March 2013. Lease rentals and stock out on hire stood at Rs 29.99 billion, from Rs 28.2 billion in March.
Customer deposits stood at Rs 45.2 billion as at end December 2013, up from Rs 38.7 billion as at end March 2013.
Net interest income grew 26% year-on-year to Rs 4.12 billion; interest income grew 25% to Rs 9.51 billion and interest expenses grew 25% to 5.38 billion.
Auction losses saw net operating income decline by 11% to Rs 3.17 billion.
Personnel expenses grew 28% to Rs 979.5 million, depreciation charges grew 6% to Rs 244.69 million and other operating expenses grew 10% to Rs 751.6 million.
Loans and receivables stood at Rs 17.5 billion as at end December 2013, against Rs 16.45 billion as at end March 2013. Lease rentals and stock out on hire stood at Rs 29.99 billion, from Rs 28.2 billion in March.
Customer deposits stood at Rs 45.2 billion as at end December 2013, up from Rs 38.7 billion as at end March 2013.
http://ceylontoday.lk/22-54186-news-detail-lb-finance-profits-down-30.html
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