First Capital Holdings PLC (the Group), has recorded outstanding financial performance for the fiscal year ended March 31, 2024, recording a Total Comprehensive Income of Rs. 10.1 bn. The Primary Dealer division was the major contributor to the Group’s impressive financial results, reporting a Profit after Tax of Rs. 11.1 bn. This performance was primarily driven by substantial trading gains on the government securities portfolio amounting to Rs. 15.8Bn and net interest income of Rs. 3.2 bn, compared to trading gains of Rs. 2.4 mn and net interest income of Rs. 3.6 bn in the previous year.
The Corporate Dealing Securities division also exhibited strong performance, reporting a Profit after Tax of Rs. 215 mn, a significant increase from Rs. 40 mn in the previous year.
The Wealth Management division turned around its performance, reporting a Profit after Tax of Rs. 6.3 mn, compared to a Loss after Tax of Rs. 0.4 mn in the previous year.
The Assets Under Management for this division surged to Rs. 93.9 bn as of March 31, 2024, up from Rs. 40.5 bn in the previous year, reflecting the division’s successful asset growth strategies.
The Stock Brokering division recorded a Profit after Tax of Rs. 8 mn, compared to Rs. 109 mn in the previous year. While this marks a decrease, the division remains a critical component of the Group’s diversified portfolio.
First Capital Holdings PLC’s Board of Directors declared a 2nd interim dividend of Rs. 5.00 per share in March 2024, for the year 2023/24. This brings the total dividend per share declared for the year to Rs. 17.25.
Further affirming its financial strength and stability, the credit ratings of First Capital Holdings PLC and First Capital Treasuries PLC were reaffirmed by Lanka Credit Rating Agency Limited (LRA) at “A”, with an upgraded outlook from stable to “positive” in May 2024.
First Capital Group’s stellar performance across its business divisions underscores its strategic acumen and operational excellence. First Capital Holdings PLC remains committed to leveraging market opportunities and enhancing stakeholder value as it continues to navigate the evolving financial landscape.
