Barita Reports Strong growth in Q1 Profit

• For the first quarter ending December 31, 2018, Barita Investments Limited (BIL) reported a net profit of $108.43Mn (EPS; $0.24), which represents 379.7% improvement on the result one year earlier.

 

• The performance over the period was primarily driven by a fair value gain of $198.4Mn on its equity portfolios.      The improvement in the results was also supported by an improvement (up 53%)  in net interest income, resulting from a significant (25.7%) decrease in interest cost of repurchase agreements. Fee and commission income was also up 35.4%, benefitting a  growth in total assets under management and a strengthening of its investment banking capabilities. 

 

• BIL closed yesterday’s trading session at a price of $51.13 per share.  At that price, the company trades at a P/E 43.7x earnings which is above the 17.5x  average for its financial market peers. 

 

(Source: BIL Financials)