First Capital Records Highest Ever PAT of Rs. 2.09 Billion
First Capital Holdings PLC recorded a Consolidated Profit after Tax of LKR 2.09Bn for the financial year 2020/21. The results show a significant growth compared to Consolidated Profit after Tax of LKR 1.07Bn recorded in the previous year. The Total Comprehensive Income recorded for year 2020/21 is LKR 2.01Bn compared to LKR 1.04Bn reported in the previous year. Meanwhile, the Company’s financial position remains strong with total assets of LKR 36.7Bn and Equity in excess of LKR 4.8Bn. First Capital is a member of the Janashakthi Group.
Commenting on the Company’s performance Nishan Fernando, Chairman, First Capital Holdings PLC, said, “Our progress during the year is a testament to our strength as a trusted institution with a history of over 35 years.”
First Capital’s Primary Dealer division contributed LKR 1.83Bn in Profit after Tax for the year 2020/21, strengthening its position as market leader.
The Company’s Corporate Finance division contributed Profit after Tax of LKR 265Mn for the financial year. Moreover, the division mobilized over LKR 10.5Bn in listed and unlisted debentures during the period.
The Company’s Wealth Management division recorded a Profit after Tax of LKR 83Mn for the year, delivering its best financial results to date. The division showed significant growth in its assets under management from LKR 26.4Bn (31st March 2020) to end at LKR 45.2Bn as at 31st March 2021.
The Company’s benchmark unit trust, the First Capital Money Market Fund has been the fastest growing fund in its category (Open-Ended Money Market Fund) to surpass LKR 20Bn in Assets.
The Company’s Stock Brokering division recorded a substantial increase in Profit after Tax of LKR 75Mn for the year 2020/21.
Commenting on the Company’s progress Dilshan Wirasekara, Director/ Chief Executive Officer, First Capital Holdings PLC, said, “this year we have delivered our best financial performance in history. As we embark on a new strategic plan, designed to steer our future growth, we remain optimistic about our ability to deliver value to all our stakeholders.”
Further reinforcing the Company’s stable financial position, ICRA Ratings upgraded First Capital Holdings PLC to [SL]A with a Stable outlook.
First Capital Holdings PLC declared an interim dividend of LKR 5/- per share amounting to LKR 506.25Mn for the year 2020/21 in March 2021.
Pelwatte Dairy-led Chef’s Guild supported Chef Event energises Sri Lanka tourism
Pelwatte Dairy, the leading local dairy brand in Sri Lanka that produces a range of dairy products and saves valuable foreign exchange, recently stepped into promoting a cornerstone in Sri Lanka’s culinary and hospitality sectors, the chefs of Sri Lanka.
The Chef Event held at Amagi Aria Hotel, Negombo, and organized by Pelwatte Dairy in partnership with the Chef’s Guild of Lanka, became a viable networking platform for the culinary experts while also giving a significant boost to their professional and skills development. The other partner of the event was the Amagi Aria Hotel.
SLT-MOBITEL Enterprise becomes SriLankan Airlines’ total communication solutions provider
SLT-MOBITEL Enterprise, the National ICT Solutions Provider, dedicated in their service to delivering best-in-class technology for the enterprise segment has signed a bilateral agreement with SriLankan Airlines with the support of Millennium IT ESP. The Managed Services Excellence event was held recently at the Jetwing Blue Hotel in Negombo.
Under this agreement, SLT-MOBITEL Enterprise will manage Service Solutions for SriLankan Airlines including Data Networking Services, Enterprise Business Internet Services, Wi-Fi Services including equipment and infrastructure, and Voice solutions.
“SLT-MOBITEL is proud to partner with SriLankan Airlines in delivering the best possible communication solutions. This partnership builds upon the strong history of collaboration between our two companies and demonstrates our shared commitment to serving Sri Lanka. By leveraging SLT-MOBITEL’s enterprise-grade services and solutions and Millennium IT ESP’s expertise, SriLankan Airlines will be able to operate more efficiently and better serve our country and its citizens,” said Janaka R. Abeysinghe, CEO of SLT.
Orient Finance earns Great Place to Work Certification for second year
Orient Finance PLC, a member of the Janashakthi Group, has received the prestigious Great Place to Work® Certification™ for the 2nd consecutive year reinforcing their position as a great workplace in Sri Lanka, and reflecting the company’s dedication to fostering a positive work culture for their employees who are considered the organization’s most valuable assets.
Great Place to Work® is an independent analyst that conducts anonymous employee surveys and culture audits to evaluate workplace practices and culture. Based on their analysis, they help organizations develop high-trust, high-performance workplace cultures that promote employee well-being and business success. To become certified, companies undergo a thorough vetting process that includes employee feedback, workplace policies, and practices. The Certification™ is based on a rigorous evaluation of company culture, which includes an assessment of trust, fairness, respect, and camaraderie in the workplace.
Orient Finance, as they celebrate this noteworthy achievement, also highlights the organization’s participation rate of 81% in the Great Place to Work® Trust Index© employee perception survey that indicates the commitment of their employees for engagement, and receptiveness to take action in order to build an exceptional workplace culture.
Orient Finance considers a supportive and optimistic work environment to be crucial to the success of the overall organization. Weighing on this, Director / Chief Executive Officer K.M.M. Jabir shared his thoughts: “Receiving the Great Place to Work® Certification™ for a second year has confirmed that our ongoing efforts to cultivate a thriving workplace culture have been successful. We are proud of this achievement, but we understand the importance of leveraging it to further improve employee experiences, engagement, and retention. We remain committed to fostering a positive and supportive work environment that encourages innovation and creativity, as we believe that this is crucial for any organization to succeed.”
Progressively, Orient Finance PLC has established itself as a customer-focused financial service provider that prioritizes innovation and offers exceptional products and customer service. With 31 branches across Sri Lanka, the company provides an array of tailored financial services which includes mobilization of Deposits, Savings Accounts, Leasing, Hire Purchase, Gold Loans, Alternative Finance Solutions, Corporate Financing and more.
The Company is a member of the Janshakthi Group, which operates in the finance, insurance, and investment sectors. The ‘Janashakthi’ brand embodies a strong culture of unity and collaboration, rooted in the Group’s values of ethics, honesty, transparency, performance, respect, and collaboration. The Group also promotes diversity and merit-based decisions as part of its growth culture initiatives, creating a vibrant and rewarding workplace for all employees.
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