Barita Investments Limited Reports Solid Earnings Growth
- For the nine-month period ended June 30, 2019, Barita Investments Limited (BIL) reported an unaudited net profit of $1.43Bn (EPS: $2.26), representing a 690% improvement on the $180.56Mn (EPS: $0.30) reported in 2018.
- The performance can be attributed to continued growth in revenue through the addition of new business lines, coupled with improvements in traditional revenue sources. In particular, the company experienced a 42.3% increase in net interest income coupled with a 98.0% growth in fees and commissions.
- Furthermore, there were improvements in all aspects of net operating income which also boosted the bottom-line performance: foreign exchange trading gains showed 106.2% improvement YoY, gain on investment activity moved from $111.60Mn to $1.24Bn, and other income which increased from $871K to $312.19Mn.
- The stock has fallen 15.4% since the start of the calendar year, closing yesterday’s trading session at $45.00 per share. At its current price, the stock now trades at a P/E of 16.07x earnings which is below the Main Market Financial sector average of 18.73x.
(Source: Barita Investments Limited Financials)