NDB Capital Holdings has continued its growth momentum in the first nine months of 2014 helped by efficient investment management strategies amidst a buoyant stock market and declining interest rates.
The company recorded an attractive profit of Rs. 261 million for 2014 Q3 up from Rs. 125 million a year ago, a 108% YOY growth. The consolidated quarterly profit for the Group was equally impressive with a growth of 84%, from Rs. 158 million in 2013 Q3 to Rs. 292 million in 2014 Q3.
The first 9 months' performance of the Group also recorded a similar growth trend as the revenue increased by 25% from Rs. 879 million (adjusted) to Rs. 1,102 million, whereas a 40% growth was recorded in profits to Rs. 746 million in 2014 compared to the adjusted profit of Rs. 532 million in 2013.
The reason for the adjustment is due to NCAP Group recording an extraordinary profit during the 2013Q1 owing to income from investing approximately Rs. 6.7 Billion in cash it received via the divestment of both direct and indirect stakes held in Aviva NDB Insurance PLC. However, this cash was returned to the shareholders towards the end of 2013Q1 and was not available for the Company for investments beyond that period. The outstanding performance in the first 9 months of 2014 was mainly fueled by efficient asset allocation and successful investment strategies. The Group annualized ROE also increased to 15.21% in the first 9 months of 2014 from 10.76% in 2013.NCAP is a subsidiary of National Development Bank PLC.
www.dailynews.lk
The company recorded an attractive profit of Rs. 261 million for 2014 Q3 up from Rs. 125 million a year ago, a 108% YOY growth. The consolidated quarterly profit for the Group was equally impressive with a growth of 84%, from Rs. 158 million in 2013 Q3 to Rs. 292 million in 2014 Q3.
The first 9 months' performance of the Group also recorded a similar growth trend as the revenue increased by 25% from Rs. 879 million (adjusted) to Rs. 1,102 million, whereas a 40% growth was recorded in profits to Rs. 746 million in 2014 compared to the adjusted profit of Rs. 532 million in 2013.
The reason for the adjustment is due to NCAP Group recording an extraordinary profit during the 2013Q1 owing to income from investing approximately Rs. 6.7 Billion in cash it received via the divestment of both direct and indirect stakes held in Aviva NDB Insurance PLC. However, this cash was returned to the shareholders towards the end of 2013Q1 and was not available for the Company for investments beyond that period. The outstanding performance in the first 9 months of 2014 was mainly fueled by efficient asset allocation and successful investment strategies. The Group annualized ROE also increased to 15.21% in the first 9 months of 2014 from 10.76% in 2013.NCAP is a subsidiary of National Development Bank PLC.
www.dailynews.lk
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