First Capital Holdings PLC (FCH) has reported strong top and bottom line growth at the end of the third quarter of 2009-10, primarily through substantial capital gains from investments in government securities in an environment of easing monetary policy.
A company spokesman stated that in keeping with the Group’s policy of a high dividend payout ratio, the company has announced a dividend of Rs 15 per share. The total dividend payout amounts to Rs 506.25 million, as reported in a filing with the Colombo Stock Exchange this week.
According to figures released to the CSE, First Capital achieved profit after tax of Rs 619.5 million for the nine months ending 31st December 2009, a nine-fold increase over the corresponding period of last year.
Profit attributable to equity holders of the parent company grew nearly 12 times to Rs 553.2 million.
A spokesman attributed the growth to timely and aggressive trading of government securities by the Group’s primary dealer First Capital Treasuries.
A company statement said contributing to the Group’s performance are three progressive and profitable financial services companies -- First Capital Treasuries (FCT) a Central Bank appointed primary dealer with a mandate to create a market for government treasury bills, government treasury bonds and repurchase agreements; First Capital Markets (FCM) – the group arm dealing with corporate debt; and First Capital Asset Management (FCAM) - a SEC approved fund manager specializing in managing wealth for high net worth individuals as well as for trusts, provident funds and companies.