JFIN -Interim report released

Monster · 1 JFIN -Interim report released Tue Feb 22, 2011 6:09 pm

Monster

Senior Vice President - Equity Analytics

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http://www.cse.lk/cmt/upload_report_file/507_1298377063.pdf

EPS - 2.41
NVPS -147.04

Monster · 2 Re: JFIN -Interim report released Wed Feb 23, 2011 1:03 am

Monster

Senior Vice President - Equity Analytics

Posts : 1708
Equity Stars : 8378
Reputation : 279
Join date : 2011-01-22

Interesting thing on the balance sheet. NVPS is dramatically increased in the balance.

NVPS as of Q2 balance sheet --> 115.45
NVPS as of Q3 balance sheet --> 147.04

The land and buildings of Finlays Colombo PLC, Finlay Properties (Pvt) Ltd, Finlay Rentokil Ceylon (Pvt) Ltd and Finlay Cold Storage (Pvt) Ltd were revalued during the financial year ended 31st December 2010 by Mr.P.W. De S. Senaratne, an independent valuer. The results of such valuation were incorporated in these financial statements with effect from 31st December 2010. Such assets were valued on an open market value for existing use basis. The surplus arising from the valuation of Rs. 1,074 million was transferred to a revaluation reserve.

Current PBV --> 0.65

Annualised EPS --> 10.42
Current Market Price --> 225/-
Current PER --> 225/10.42 = 21.60

I am not holding any JFIN shares. But looks attractive when we look at NVPS and the PE.