09-Nov-2012 Interim financial statements 30-09-2012

Interim Financial Statements for the period ended 30-09-2012 of the following companies have been uploaded on the CSE website.

CEYLON HOSPITALS
http://www.cse.lk/cmt/upload_report_file/514_1352455480658.pdf

CEYLON TOBACCO COMPANY
http://www.cse.lk/cmt/upload_report_file/460_1352457230.pdf

C T LAND DEVELOPMENT
http://www.cse.lk/cmt/upload_report_file/614_1352457944.pdf

HAPUGASTENNE PLANTATIONS
http://www.cse.lk/cmt/upload_report_file/708_1352458729438.pdf

HATTON NATIONAL BANK
http://www.cse.lk/cmt/upload_report_file/373_1352453547463.pdf

HVA FOODS
http://www.cse.lk/cmt/upload_report_file/1046_1352460924028.pdf

JOHN KEELLS HOLDINGS
http://www.cse.lk/cmt/upload_report_file/508_1352454146690.pdf

MALWATTE VALLEY PLANTATIONS
http://www.cse.lk/cmt/upload_report_file/722_1352458907.pdf

LB FINANCE
http://www.cse.lk/cmt/upload_report_file/379_1352457207125.pdf

VALLIBEL FINANCE
http://www.cse.lk/cmt/upload_report_file/949_1352457053281.pdf

UDAPUSSELLAWA PLANTATIONS
http://www.cse.lk/cmt/upload_report_file/727_1352453064119.pdf

Fantastic growth from all companies but Ceylon hospitals. But even they have 6 month growth.

HVA massive growth in eps . A couple of million earnings make a huge difference for HVA and apparently was helped by currency depreaciation also.

All in all , the results so far have been very encouraging during bad times.

slstock wrote:Fantastic growth from all companies but Ceylon hospitals. But even they have 6 month growth.

HVA massive growth in eps . A couple of million earnings make a huge difference for HVA and apparently was helped by currency depreaciation also.

All in all , the results so far have been very encouraging during bad times.

No doubt.

what a time to invest. good days are ahead.

slstock wrote:Fantastic growth from all companies but Ceylon hospitals. But even they have 6 month growth.

HVA massive growth in eps . A couple of million earnings make a huge difference for HVA and apparently was helped by currency depreaciation also.

All in all , the results so far have been very encouraging during bad times.

Are LFIN and VFIN quarterly EPS are annualized?

VFIN quarter EPS is too good to believe.

Someone please explain?

Vallible Fianance is the smallest growth engine of Dammika. LB is quite big engine.

Best investment will be Vallible finance.........DD is bone for businesses. It is unbelievable he has done all the investments correctly......

This is what we all expected. Does any body need any other reason...........................Sri lanka is on its way..................Mkt PE will come down further. Dont sell your valuable shares to foreigners. Transfer those to children.........

it is on annualised basis

dineshfernando wrote:Are LFIN and VFIN quarterly EPS are annualized?

VFIN quarter EPS is too good to believe.

Someone please explain?

Today's results are actually encouraging and surely removed any doubts about the consistency of the earnings. I had some worries about JKH. Their main income generator was SAGT. As economy got slowed down, I thought SAGT will be heavily affected. But it's not that much. Any how their leisure sector earnings are growing at a much faster rate. Next year onwards property sector will start to perform. So future is bright for JKH.

I think earnings are really encouraging and what is left is to adjust these earnings into share prices which I hope will happen gradually.

hariesha wrote:Today's results are actually encouraging and surely removed any doubts about the consistency of the earnings. I had some worries about JKH. Their main income generator was SAGT. As economy got slowed down, I thought SAGT will be heavily affected. But it's not that much. Any how their leisure sector earnings are growing at a much faster rate. Next year onwards property sector will start to perform. So future is bright for JKH.

I think earnings are really encouraging and what is left is to adjust these earnings into share prices which I hope will happen gradually.

The soon to be announced mega project will also require mega cash input . Any ideas how they will raise it ?

VFIN annualized. LFIN quarterly.

dineshfernando wrote:Are LFIN and VFIN quarterly EPS are annualized?

VFIN quarter EPS is too good to believe.

Someone please explain?

Amal Mudunkotuwa wrote:Vallible Fianance is the smallest growth engine of Dammika. LB is quite big engine.

Best investment will be Vallible finance.........DD is bone for businesses. It is unbelievable he has done all the investments correctly......

On cash per share, Dividend yield, ROE and growth percentages LFIN seems to be ahead of VFIN still. Also am still trying to figure out the need of VFIN for DD when LFIN is already there. But if VFIN remains a standalone entity for many years, then at some point VFIN growth % might surpass LFIN as it is easier for smaller entities to grow than matured ones.

Out of the 2 , I still would pick LFIN if one is conservative . But if one is adventurous and like some area for speculation and does not mind lower dividend% etc VFIN is the one to go with.

Both of them are roughly growing at the same rate and market value of PE is about 6. PBV VFIN is a bit ahead this quarter due to LFIN Rs 5 dividend.

Encouraging no doubt and number of cherry picking baskets are increasing.

But still like to see the results of the higher debt companies .

Interested to see the performance of a specific IT related company also;-)

hariesha wrote:Today's results are actually encouraging and surely removed any doubts about the consistency of the earnings.

slstock wrote:Fantastic growth from all companies but Ceylon hospitals. But even they have 6 month growth.

HVA massive growth in eps . A couple of million earnings make a huge difference for HVA and apparently was helped by currency depreaciation also.

All in all , the results so far have been very encouraging during bad times.

Yes, most companies showed resilience, though many predicted negative results. This surely have spoiled the party of people like 'aj'

Y i say VFIN is good due its low mkt cap. Small companies will give u even 10 beggars. Both has almost same No. of shares. I heard Vifin dosnt have a good banking software . Hoe on earth they grow if DD was not there.

Srilankan credit mtk is getting bigger and bigger. DD has SAMP and PABC and also VFIN + LIFIN.

These companies are totally separated and managed by 4 different senior manager groups who are very very competitive. It is like Unilever has LA O GI and ceylonta/ Since mkt is big DD create more and more competitiveness.

HNB PLC continued its growth momentum despite the challenging environment demonstrating resilience, posting a robust growth of 24% in pre-tax profit to Rs. 6.71Bn during the first nine months of 2012 while post tax profit also increased by 28% to Rs. 4.61Bn over the corresponding period in 2011.

Commenting on the performance, the Chairperson of HNB Dr. Ranee Jayamaha stated that "HNB’s success in recording sustainable growth, withstanding adverse market conditions, is attributable to the solid business model, focus, prudence and commitment as well as the trust our valuable customers have placed in us over the years".

The Bank posted Gross income of Rs 37.9 billion for the nine months to 30th September 2012 which was an increase of 40% over the previous 12 months. The interest income from loans and advances too recorded a growth of 41% during the first 9 months of 2012, compared to 2011 on account of the growth in loans and advances and rising interest rates.

In line with the direction issued by the Central Bank to limit the growth in credit, the Bank cautiously expanded its loan book through quality credit, with gross loans and advances increasing by 14%, recording a growth of Rs. 37.2Bn to reach Rs. 300.9Bn as at end of September 2012.

Interest expenses also increased by 56% to Rs. 18.7Bn due to the growth in deposits and re-pricing of liabilities at higher interest rates amidst heavy peer competition. The deposit base of the Bank grew by Rs. 35.7Bn during the period under review posting a 12% growth to reach Rs. 323.7Bn as at end of September 2012 while the deposit mix witnessed a shift towards high yielding time deposits due to the prevailing market conditions. Nevertheless, as a result of prudent asset and liability management, the Bank recorded a 26% growth in net interest income during the period.

The non interest income of the Bank also increased to Rs. 4.1Bn recording a growth of 30% during the first nine months of 2012, driven by both forex income and other income. Increase of 22% in other income was mainly on account of higher commission income while exchange income too recorded a 55% growth during the first nine months of 2012.

During the period under review, the Bank was successful in reducing its cost to income ratio to 52.4%, which is a remarkable improvement in comparison to 57.7% as at end of December 2011(59.7% in September 2011) despite the expansion in the delivery network by 21 new customer centres during the 12 months up to 30th September 2012.

Mr. RajendraTheagarajah Managing Director / CEO of HNB commented that, "In 2012 one of our key objectives has been cost optimization and the measures taken by the Bank in this regard, have yielded expected results. We will continue to focus on maximizing efficiency through process improvements and deployment of new technology".

The asset quality improved over the previous quarter of 2012, with Gross NPA ratio reducing to 4.05% from 4.58% and Net NPA ratio from 2.85%to 2.25%, due to prudent credit and risk management policies. HNBs Provision cover too, witnessed an improvement over previous quarter to 44.35%, from 37.78%.

The Bank’s core capital and total capital adequacy ratio improved further to 12.72% and 15.54% respectively as at 30th September 2012, as against the statutory minimum of 5% and 10%.

HNB Group recorded a pre-tax profit of Rs. 7.15Bn for the nine months ended September 30, 2012, up by 24% from Rs. 5.78Bn in 2011 and a post-tax profit attributable to the Group of Rs. 4.92Bn up by 26% from Rs. 3.89Bn made during the corresponding period last year.

The performance of the insurance subsidiary HNB Assurance PLC as well as the property development subsidiary Sithma Development (Pvt) Ltd made noteworthy contributions towards the growth.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=65802

Nov 11, 2012 (LBO) - Sri Lanka's Ceylon Tobacco Company Plc, a unit of British American Tobacco said profits in the September 2012 quarter rose 15 percent to 2.3 billion rupees despite sales volumes falling.

The firm reported earnings of 12.28 rupees per share for the quarter. During the nine months to September it reported earnings of 33.06 rupees per share on total profits of 6.19 billion rupees.

The profits were helped by a forex gains on a US dollar denominated deposit and a surplus on a gratuity fund which reduced provisions, the firm said.

In the September quarter revenues rose 10.9 percent to 21.6 billion rupees, taxes including excise, value and nation building tax rose at a slower 9.5 percent to 16.6 billion rupees allowing net revenues to grow 15.7 percent to 5.0 billion rupees.

The firm said it paid 47.8 billion rupees to the government in taxes, up 9.0 percent from a year earlier, while sales volumes dropped 2.6 percent.

Ceylon Tobacco said it was growing the premium segment. Export sales were up 78 percent off a small base to 70 million rupees.

Authorities were also cracking down on illicit cigarettes with 679 raids netting 43 million sticks valued at 946 million rupees.https://2img.net/u/1213/25/30/80/avatars/336-96.jpg

The firm has also gone to courts over new graphic labeling requirement. The move had been delayed to next March by the health ministry.
http://lbo.lk/fullstory.php?nid=1605524808

Backstage wrote:

hariesha wrote:Today's results are actually encouraging and surely removed any doubts about the consistency of the earnings. I had some worries about JKH. Their main income generator was SAGT. As economy got slowed down, I thought SAGT will be heavily affected. But it's not that much. Any how their leisure sector earnings are growing at a much faster rate. Next year onwards property sector will start to perform. So future is bright for JKH.

I think earnings are really encouraging and what is left is to adjust these earnings into share prices which I hope will happen gradually.

The soon to be announced mega project will also require mega cash input . Any ideas how they will raise it ?

Yes, It's an interesting point. That's why there were substantial re-arrangements in the shareholders list during last six months. Currently about 63% of JKH is owned by foreigners and mainly by high capacity institutions. By the end of 2012, more than 2/3 of JKH will be in the hands of these foreign institutions.

They can raise about Rs.22 billion by going for 1 for 3 rights @ Rs.75/- level. If this happen in 2013/14 financial year, JKH will bring at least Rs.14 billion worth of Net foreign inflows into CSE.