Prime Securities Ltd reports profit after tax of Rs.280 million

The Board of Prime Securities Ltd is pleased to announce a record Revenues and Profits for the Year ended March 31, 2007.

Consolidated revenues for the year were at Rs.521 million compared to Rs.254.10 million for the previous year, while Profit after Tax for the year FY2007 was at Rs.280 million compared to Rs.160.90 million for FY2006.

The board has recommended a final dividend of 30% (on a face value of Rs.5 per share), in addition to 15% declared and paid as the Interim Dividend, this makes the full year dividend @ 45% (being Rs.2.25 per share).

This performance has been possible due to significant deal closures in the areas of private equity and corporate finance. Institutional brokerage activity has also been very buoyant. The private wealth management business, started in October 2006, has already made a significant contribution to Prime's overall presence and performance.

Source : Equity Bulls

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