Vallibel Finance PBT grows by 17% - Profit races to Rs. 1.2 billion in 6 months
Despite Sri Lanka’s financial landscape being tormented by uncer ta in environmental conditions in a topsy- turvy first half, Vallibel Group’s namebearing finance company has experienced smooth sailing as usual. Amidst many challenges, Vallibel Finance continued to set the bar high with profits before tax ( PBT) reaching a record high of Rs. 1.2 billion for the first six months ending September 2019, increasing from Rs. 1.01 billion against the corresponding period of the previous year.
The 17.5 percent increase in p rofits assumes g re at e r significance than the numbers show, given the external volatility that has been bruising the industry continuously.
At the end of just 12 years since its inception, the company’s assets column read Rs. 50 billion – a monumental feat for a newcomer – earning
Vallibel the title of an old industry’s new trail- blazer. Total assets crossed Rs. 50 billion growing by 15.7 percent against the Rs. 43.2 billion recorded in the corresponding period in 2018, resulting in an impressive Balance Sheet and placing the company among Sri Lanka’s largest in terms of assets.
Further, Net Interest Income increased to Rs. 1.91 billion recording a growth of 22.5 percent against the previous figure of Rs. 1.56 billion.
“Challenging and daunting times have been the backdrop of our record- breaking results previously and in the current financial year, the top half was even more turbulent, testing the resilience of the entire country. We are proud to say that Vallibel Finance has sailed swiftly through the storm, bettering its previous best,” says Vallibel Group Chairman Dhammika Perera, who has been at the helm throughout the company’s 12 years of remarkable growth.