Thursday, October 6, 2011

Entrust Securities records 323% growth in profits

Entrust Securities Limited (ESL), a licensed Primary Dealer appointed by the Central Bank dealing in government securities said the firm recorded a net profit of Rs 148.7 million for the year ended March 31, 2011 compared to Rs 35.2 million recorded in FY 2009/ 2010, resulting a staggering growth of 323 percent.

Its active presence in the secondary market transactions and prudent decision making contributed to overall profitability of the company, with the income on capital gains rising from Rs 32.3 million to Rs 91.0 million which, is an increase of 182%.  Recently published audited financials clearly highlighted the remarkable growth of the company with an Earnings Per Share (EPS) of Rs 6.76 compared to Rs 1.60 achieved as at 31st March 2010.

Entrust Securities has weathered challenging market conditions and overall financial industry instabilities during the past few years and has continued to maintain its position as one of the leading, established Primary Dealers in Sri Lanka. The company continues to maintain its growth in the share holder’s funds and as 31st March 2011 it remained at Rs 651.5 million, which reflected a Net Assets per share price of Rs 29.62. When compared with the previous years, the NAV per share recorded an increase of 30%, which clearly reflects the company’s steady growth over the past few years.

Under the umbrella of Entrust group of companies since inception, ESL has been in the forefront of the development of the local debt market by popularising investments in Governemnt Securities, through many Investor Awareness seminars conducted island wide.  The company’s highly skilled and professional staff have been servicing a large number of high net worth individuals and corporate clients which include governemnt entities as well.  Over the period of years, the customer base of ESL has widened and the company has developed strong bonds with its loyal clientele, creating a niche as specialists in wealth forecasting.

With the guidance and stewardship of the new management of its holding company Entrust Limited, the Primary Dealer arm is geared to retain its dominancy in the market, as an aggressive market maker in Treasury bill and bond trading.

With the dawn of a new era Sri Lanka is entering an exciting financial landscape and is being recognised as an emerging market. In this backdrop, A H M Riyaz, Group Executive Director/ CEO said “as a licensed Primary Dealer we are keen in educating and inculcating the investment habits amongst the public, in safe and secure, highly liquid, tax free instruments such as Treasury Bills and Bonds which would contribute to the development of the nation”.

source -

No comments: