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Dunamis Capital records Rs 878 m PAT


Ms Manjula Mathews

A transformative contribution from its financial services unit has significantly bolstered the half-year profits of Dunamis Capital PLC, enabling the Group to post profit after tax of Rs 878 million for the six months ending September 30, 2014 against a net loss of Rs 0.22 million in the corresponding six months of the previous year.

The Group improved revenue by 68.6 percent to Rs 1.8 billion and pruned its cost of sales by 13 percent to Rs 742.5 million, an improvement in gross profit from Rs 212 million in the first half of 2013-14 to Rs 1.05 billion.

Dunamis Capital PLC is the holding company of First Capital Holdings PLC, Kelsey Developments PLC and Premier Synthetic Leather Manufacturers (Pvt) Ltd.

Provisional financial statements filed with the Colombo Stock Exchange showed that the Group converted a loss of Rs 29.5 million on fair value of financial investments held for trading in the first half of last year, to a gain of Rs 419.7 million this year and improved other operating income for the six months to Rs 188 million.

Net profit attributable to equity holders of the parent company amounted to Rs 664.7 million compared to an attributable loss of Rs 0.15 million for the first half of last year.

Earnings per share as at September 30, 2014 stood at Rs 5.40, while the Groupís net assets per share had improved from Rs 10.84 to Rs 16.32.

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