{"id":136342,"date":"2024-06-03T14:34:15","date_gmt":"2024-06-03T14:34:15","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=136342"},"modified":"2024-06-03T14:35:05","modified_gmt":"2024-06-03T14:35:05","slug":"first-capital-holdings-reports-robust-financial-performance-for-fy-2023-24","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/first-capital-holdings-reports-robust-financial-performance-for-fy-2023-24\/","title":{"rendered":"First Capital Holdings Reports Robust Financial Performance for FY 2023\/24"},"content":{"rendered":"<h2 style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>First Capital Holdings Reports Robust Financial Performance for FY 2023\/24<\/strong><\/span><\/h2>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-136343 aligncenter\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2024\/06\/Image-1-Nishan-Fernando_FCH-e1717425027139.jpg\" alt=\"Image 1 - Nishan Fernando_FCH\" width=\"600\" height=\"572\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong><em>3<sup>rd<\/sup> June 2024, Colombo:\u00a0 <\/em><\/strong>First Capital Holdings PLC (the Group), a leading investment institution, and a member of the Janashakthi Group, announces an outstanding financial performance for the fiscal year ended 31 March 2024, recording a Total Comprehensive Income of Rs. 10.1Bn, a significant increase from Rs. 2.7Bn in the previous year. This substantial growth underscores the Group&#8217;s strategic positioning and robust operational execution across its business divisions.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The Primary Dealer division was the major contributor to the Group\u2019s impressive financial results, reporting a Profit after Tax of Rs. 11.1Bn, a remarkable surge from Rs. 2.9Bn in the previous year. 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. 3.2Bn, compared to trading gains of Rs. 2.4Mn and net interest income of Rs. 3.6Bn in the prior year.<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The Corporate Dealing Securities division also exhibited strong performance, reporting a Profit after Tax of Rs. 215Mn, a significant increase from Rs. 40Mn in the previous year.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The Wealth Management division turned around its performance, reporting a Profit after Tax of Rs. 6.3Mn, compared to a Loss after Tax of Rs. 0.4Mn in the previous year. The Assets Under Management for this division surged to Rs. 93.9Bn as of 31 March 2024, up from Rs. 40.5Bn in the previous year, reflecting the division&#8217;s successful asset growth strategies.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The Stock Brokering division recorded a Profit after Tax of Rs. 8Mn, compared to Rs. 109Mn in the previous year. While this marks a decrease, the division remains a critical component of the Group\u2019s diversified portfolio.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">In recognition of its robust financial health, First Capital Holdings PLC\u2019s 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.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">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 \u201cA\u201d, with an upgraded outlook from stable to \u201cpositive\u201d in May 2024.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Dilshan Wirasekara, MD\/CEO of First Capital, stated, &#8220;We\u2019re thrilled to share such fantastic financial results this year, building on the success of the previous year. Our strategic efforts to tap into market opportunities have really paid off, and this is reflected in the strong growth across our divisions. The standout performance of our Primary Dealer division highlights our ability to navigate and make the most of favourable market conditions.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">First Capital Group\u2019s 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.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">-END-<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Photos and Captions: <\/strong><\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li><span style=\"font-size: 16px; color: #000000;\"><strong>Nishan Fernando \u2013 Chairman, First Capital Holdings PLC <\/strong><\/span><\/li>\n<li><span style=\"font-size: 16px; color: #000000;\"><strong>Dilshan Wirasekara \u2013 MD\/ Chief Executive Officer, First Capital Holdings PLC <\/strong><\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><em>About First Capital Holdings PLC: <\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><em>First Capital, the pioneering investment institution and non-bank market leader in primary dealing, is an organization that aims to establish itself as a catalyst for growth in capital markets, embodying the ethos of \u201cPerformance-First\u201d and with a vision to improve the lives of all Sri Lankans through financial solutions. First Capital Holdings PLC is a member of the Janashakthi Group and operates as a primary dealer, corporate finance advisor, wealth manager and stockbroker. Notably, First Capital has been recognized as the Most Valuable Consumer Brand in the Investment Banking sector by Brand Finance for two consecutive years.<\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><em>With over four decades of expertise in providing capital market solutions, First Capital Holdings PLC is a listed full-service investment institution in Sri Lanka. First Capital Holdings PLC is rated [SL] A with Positive outlook by LRA.<\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><em>The Board of Directors of First Capital Holdings PLC comprises Nishan Fernando (Chairman), Manjula Mathews (Deputy Chairperson), Dilshan Wirasekara (Managing Director \/ Chief Executive Officer), Ramesh Schaffter, Chandana de Silva, and Kuda Banda Herath.<\/em><\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-136344\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2024\/06\/Image-2-Dilshan-Wirasekara_FCH-e1717425129583.jpg\" alt=\"Image 2 - Dilshan Wirasekara_FCH\" width=\"600\" height=\"592\" \/><\/p>\n<p><span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/websitedesigns.com.au\/elankanew\/elanka-newsletter-sign-up\/\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"font-size: 18px;\">Click here to receive your free copy of the eLanka Newsletter twice a week delivered directly\u00a0to\u00a0your\u00a0inbox!<\/span><\/strong><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>First Capital Holdings Reports Robust Financial Performance for FY 2023\/24 3rd June 2024, Colombo:\u00a0 First Capital Holdings PLC (the Group), a leading investment institution, and a member of the Janashakthi Group, announces an outstanding financial performance for the fiscal year ended 31 March 2024, recording a Total Comprehensive Income of Rs. 10.1Bn, a significant increase [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":136343,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[61597,46811,53910,65374],"class_list":{"0":"post-136342","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-capital-holdings-plc","9":"tag-dilshan-wirasekara","10":"tag-janashakthi-group","11":"tag-nishan-fernando","12":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First Capital Holdings Reports Robust Financial Performance for FY 2023\/24<\/title>\n<meta name=\"description\" content=\"3rd June 2024, Colombo:\u00a0 First Capital Holdings PLC (the Group), a leading investment institution, and a member of the Janashakthi Group\" \/>\n<meta name=\"robots\" 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