Commercial Credit and Finance records successful 3Q 2018 | Daily News

Commercial Credit and Finance records successful 3Q 2018

COO Rajiv Casie Chitty
COO Rajiv Casie Chitty

Commercial Credit and Finance PLC Group recorded a strong performance for the quarter ended December 31, 2018 with an un-audited Profit Attributable to Shareholders of Rs. 808,425,246 as compared to Rs. 678,095,749 recorded in the quarter ended December 31, 2017.

The Group recorded a growth of Rs. 130,392,497 in profit attributable to shareholders or 9% in comparison to the corresponding period last year. The performance is commendable as it was achieved in a very challenging environment in the last quarter of 2018.

The Group’s performance for the nine months ended December 31, 2018 also ended on a high note with Commercial Credit and Finance PLC Group recording a profit attributable to shareholders of Rs. 1,890,707,367 compared to Rs. 1,782,354,731 rupees recorded as at December 31, 2017 which is a 6% growth.

The Company has fully implemented Sri Lanka Financial Reporting Standards 9 during the Financial Year of 2018/2019. The above results are after providing for impairment of financial assets under SLFRS 9.

Chief Operating Officer Rajiv Casie Chitty of Commercial Credit and Finance PLC said, “The main driving force behind Commercial Credit’s astronomical success has always been at the hands of our very dedicated workforce. We are truly humbled and elated that we were able to record such successful results. We are deeply committed to ensuring that our success reaches all stakeholders of the company”.


 

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