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Sri Lanka Equity Forum » Stock Market Talk » Impressive performance by Orient Finance

Impressive performance by Orient Finance

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1Impressive performance by Orient Finance Empty Impressive performance by Orient Finance on Tue Jul 12, 2016 5:12 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Impressive performance by Orient Finance

Orient Finance recorded a profit before tax of Rs. 113 million for the three months ended December 31, 2015 compared with the profit before tax of Rs. 6.4 million in the corresponding period of last year.
Profit before tax for the nine months ended December 31, 2015 was Rs.180.9 million, compared to a profit before tax of Rs. 39.8 million for the corresponding period of last year.
A deferred tax gain of Rs. 282 mn, on the purchase consideration paid to former shareholders of Orient Finance PLC (OFP) has been recognized in the comprehensive income, to the extent of future profit estimates thereby increasing the profit after tax for the nine months ended December 31, 2015 to Rs. 463 mn.
Turnover for the nine months ended December 31, 2015 improved to Rs. 1,592 million from Rs. 1,225 million in the corresponding period of 2014. The cumulative provision for impairment for nine months period decreased to Rs. 225 million from Rs. 243 million. .
The Assets and Liabilities of former Orient Finance PLC were purchased by Bartleet Finance PLC and amalgamated as per the provisions of the Companies Act No. 07 of 2007 on 16th July 2015. Further, Bartleet Finance PLC is the surviving entity upon the completion of the amalgamation and continues its operations as a single legal entity. On 14th August 2015, Bartleet Finance PLC was renamed as Orient Finance PLC (OFP). The performance of this year is based on the amalgamated financials of the combined entity whilst the corresponding figures of last year are that of Bartleet Finance PLC.
With this amalgamation, the total assets of OFP as at 31st December, 2015 stood at Rs. 17.2 billion, whilst deposits from customers and advances to customers were Rs. 8.4billion and Rs. 13.5billion respectively.
The merged entity, OFP operates 25 branches with five Collection Centers covering major towns of the country including northern and eastern provinces.

2Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Wed Jul 13, 2016 2:09 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
IPO Price is Rs 15.00
Current Price Rs 15.90

Annualized EPS is 3.90

PER is JUST 4 times

Target price is 3.90 x 10  =Rs 39.00

3Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Wed Jul 13, 2016 4:36 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Comments?

4Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Wed Jul 13, 2016 4:42 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Comments?

5Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Wed Jul 13, 2016 6:17 pm

reader


Senior Equity Analytic
Senior Equity Analytic
If we have another 5-6 green days , no doubt BFN will up at-least by 15%.

6Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Thu Jul 14, 2016 2:03 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Big chance.

50% profit within 50 days

7Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Wed Aug 03, 2016 3:29 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Profit up 377%

8Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Thu Aug 04, 2016 1:57 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
08.04.2016 Very Happy Very Happy Very Happy Very Happy

9Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Thu Aug 04, 2016 2:01 am

TARGET


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Kawuru hari reply ekak dannako.. pawne harry wiharane me topic eke inne.. lol!

10Impressive performance by Orient Finance Empty Re: Impressive performance by Orient Finance on Thu Aug 04, 2016 2:29 am

trader7


Manager - Equity Analytics
Manager - Equity Analytics
Upward trend possible in Bull market condition.

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