*FY12E-EPS-16
*PE-11.25
*Issued Capital-300Mn
*FY12E-Rs 4,809Mn
facts...........
*The loss of SLIC has led to the company regaining focus as the dominant liquor producer in the country and it still remains a cash rich and asset rich entity with the potential for further acquisitions-if so price will fly
*Sale of their remaining stake in Lanka Hospitals to Fortis for a gain of Rs.3.8 bn,When removing the impact of the one off gain the company still made an almost
107% increase in earnings for FY11.
*30% revenue growth in beverage revenues
*Beverage revenues topped Rs.40 billion for the year and despite the continuing impact of excise tax increases.
*Distilleries' inventory and receivables have grown significantly both sequentially and YoY. The company continues to be significantly cash rich with almost Rs.10.6 billion in cash and equivalents.
*Distilleries paid Rs.27.50 per share and acquired a 47% stake in Pelwatte Sugar.
*Distilleries booked Rs.669m from associates which stems mainly from their stake in Aitken Spence.
*The company obtained a license to start an insurance operation making an investment of Rs.500m to start an exclusively general insurance business titled
“Continental Insurance”. The company has aggressively targeted motor vehicle insurance by introducing a policy that lets a vehicle owner/driver who maintains an accident free period of one year to enjoy an additional year for free.
no buy,sell or hold implications,think before jump