Annual Report 11/12
Vallibel One is a diversified holding company with a strong record of making smart, value creating investments in a number of fast growing sectors of Sri Lanka. We are proud to see that this year, as in others, we can once again record another fine set of results for our shareholders. Today, we re proud to celebrate our spirit of success as we continue to diversify our interests to make our company bigger, stronger and more valuable. This is who we are. And this is what powers our drive to greatness. The Vallibel One Spirit of Success. 51% holding of LB Finance Co. Limited 5% holding of Orit Apparels Lanka (Pvt) Ltd. 5% holding of Delmege Forsyth & Company Limited 51% holding of Royal Ceramics Lanka Plc Vallibel One Limited is a diversified holding company which has made strategic investments into the financial services, tile and sanitaryware manufacture and leisure sectors. Sector specific operations are carried out through our subsidiaries: LB Finance PLC, Royal Ceramics Lanka PLC group and Greener Waters Ltd respectively. The Company also holds a 14.99% stake in Sampath Bank PLC, which is treated as a strategic long term investment. Vallibel One also plans to invest into the fast growing power sector of Sri Lanka.
Annual Report 1/11 Chairman s statement LB Finance Plc Lanka + Plc 17% The finance sector achieved a 17% for the year 1/11. Orit Apparels + 25% The apparels sector achieved a 25% for the year 1/11. Royal Ceramics Lanka + Plc 15% The manufacturing sector achieved a 15% for the year 1/11. Fortress Hotel & Spa + 22% The Group s Leisure sector achieved a 22% for the year 1/11. Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Donec pretium ipsum tincidunt odio faucibus aliquet. Ut lobortis eleifend ligula. Nunc dictum purus ac libero. Ut augue nunc, iaculis sed, semper ac, semper ut, ipsum. In nec nunc. Morbi consequat ligula. Suspendisse condimentum, eros a porttitor volutpat, urna mauris sollicitudin ipsum, eu lacinia dui nunc vel ligula. Fusce feugiat odio in nunc. Vestibulum lobortis scelerisque est. Aenean placerat purus sit amet nulla fringilla semper. Nullam lobortis nisl sed ipsum. Maecenas lacus dui, ullamcorper non, ultricies ut, posuere in, elit. Integer consectetuer ante a mauris. Suspendisse posuere egestas nibh. Mauris massa lacus, facilisis a, bibendum non, pellentesque et, tortor. Nullam eget risus id justo commodo sagittis. Fusce lacinia pede et est. In non arcu. Cras pulvinar, nisl ut commodo feugiat, felis mi sagittis mi, vel eleifend metus est at tortor. Maecenas aliquet, orci non mollis luctus, lorem neque aliquet libero, ut porttitor felis pede eu mi. aliquet tempor, diam mi molestie ipsum, vitae pulvinar turpis ante ut leo. Nam diam eros, dictum a, pellentesque sagittis, ultricies at, tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Aliquam nulla orci, consectetuer non, pellentesque ac, lobortis eget, nisl. Pellentesque urna. Aliquam erat volutpat. Vestibulum posuere, magna eu consectetuer accumsan, tellus lacus molestie arcu, ut imperdiet justo leo et urna. Nullam euismod lectus vitae ligula auctor rutrum. Aenean ut libero ut risus ultricies rutrum. Proin cursus dapibus lorem. Cras lobortis, tellus sed dictum sodales, nunc nunc laoreet arcu, ut pretium velit enim ut mi. Innovation Inspired. Maecenas sed lectus. Praesent eget tellus id sapien dapibus imperdiet. Curabitur ut nibh eu sapien tempor sagittis. Quisque hendrerit, eros in The spirit of success has driven our investments to new heights in the year under review. Our policy of continuous improvement was another sign of good leadership, since this 5 is the only way we can ensure business continuity and the wellbeing of our people. 6
Annual Report 1/11 Sector review This is one of our most valuable investments, and we have been balancing the pursuit of growth with a disciplined management of costs and risks while keeping a firm grip on liquidity and capital. 51% stake in LB Finance 5% stake in Orit Apparels Plc 5% stake in Fortress Resorts 51% stake in Royal Ceramics Plc 1 6 Operational Profit 9 1 11 1 6 Revenue 9 1 11 Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Donec pretium ipsum tincidunt odio faucibus aliquet. Ut lobortis eleifend ligula. Nunc dictum purus ac libero. Ut augue nunc, iaculis sed, semper ac, semper ut, ipsum. In nec nunc. Morbi consequat ligula. Suspendisse condimentum, eros a porttitor volutpat, urna mauris sollicitudin ipsum, eu lacinia dui nunc vel ligula. Fusce feugiat odio in nunc. Vestibulum lobortis scelerisque est. Aenean placerat purus sit amet nulla fringilla semper. Nullam lobortis nisl sed ipsum. Maecenas lacus dui, ullamcorper non, ultricies ut, posuere in, elit. Integer consectetuer ante a mauris. Suspendisse posuere egestas nibh. Mauris massa lacus, facilisis a, bibendum non, pellentesque et, tortor. Nullam eget risus id justo commodo sagittis. Fusce lacinia pede et est. In non arcu. Cras pulvinar, nisl ut commodo feugiat, felis mi sagittis mi, vel eleifend metus est at tortor. Maecenas aliquet, orci non mollis luctus, lorem neque aliquet libero, ut porttitor felis pede eu mi. Maecenas sed lectus. Praesent eget tellus id sapien dapibus imperdiet. Curabitur ut nibh eu sapien tempor sagittis. Quisque hendrerit, eros in aliquet tempor, diam mi molestie Contribution to Group Profit 12% Aim To deliver mid-teen returns whilst balancing the long term objective of having strong yet efficient levels of capital. Analysis The normalised return on shareholders equity was 14.3 per cent, down from 15.2 per cent reflecting the further strengthening of our capital position. Further information Normalised return on shareholders equity is calculated as the normalised profit attributable to ordinary shareholders as a percentage of average ordinary shareholders equity. Source This measure is derived from information within the Group s audited financial statements, being normalised earnings ipsum, vitae pulvinar turpis ante ut leo. Nam diam eros, dictum a, pellentesque sagittis, ultricies at, tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Aliquam nulla orci, consectetuer non, pellentesque ac, lobortis eget, nisl. Pellentesque urna. Aliquam erat volutpat. Vestibulum posuere, magna eu consectetuer accumsan, tellus lacus molestie arcu, ut imperdiet justo leo et urna. Nullam euismod lectus vitae ligula auctor rutrum. Aenean ut libero ut risus ultricies rutrum. Proin cursus dapibus lorem. Cras lobortis, tellus sed dictum sodales, nunc nunc laoreet arcu, ut pretium velit enim ut mi. Sed nec felis quis ipsum condimentum porta. Phasellus lectus dolor, euismod sit amet, elementum vel, adipiscing a, est. In hac habitasse platea dictumst. Cras molestie, turpis vitae dictum blandit, lacus augue tincidunt augue, id mattis nibh erat ut libero. Phasellus pede ante, euismod sed, viverra quis, cursus et, eros. Nunc congue, arcu feugiat placerat gravida, tortor purus consectetuer ligula, eget faucibus nisi magna in lacus. Duis blandit pharetra pede. Suspendisse a massa eu massa feugiat posuere. Nunc quis augue. Morbi vel urna id erat ullamcorper aliquet. Morbi vel libero eu risus auctor cursus. Fusce tincidunt orci et sapien. Quisque mollis. Suspendisse consectetuer lorem pulvinar turpis. 7 8
Annual Report 1/11 Sector review This is one of our most valuable investments, and we have been balancing the pursuit of growth with a disciplined management of costs and risks while keeping a firm grip on liquidity and capital. 5% stake in Orit Apparels 51% stake in LB Finance Plc 5% stake in Fortress Resorts 51% stake in Royal Ceramics Plc Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Donec pretium ipsum tincidunt odio faucibus aliquet. Ut lobortis eleifend ligula. Nunc dictum purus ac libero. Ut augue nunc, iaculis sed, semper ac, semper ut, ipsum. In nec nunc. Morbi consequat ligula. Suspendisse condimentum, eros a porttitor volutpat, urna mauris sollicitudin ipsum, eu lacinia dui nunc vel ligula. Fusce feugiat odio in nunc. Vestibulum lobortis scelerisque est. Aenean placerat purus sit amet nulla fringilla semper. Nullam lobortis nisl sed ipsum. Maecenas lacus dui, ullamcorper non, ultricies ut, posuere in, elit. Integer consectetuer ante a mauris. Suspendisse posuere egestas nibh. Mauris massa lacus, facilisis a, bibendum non, pellentesque et, tortor. Nullam eget risus id justo commodo sagittis. Fusce lacinia pede et est. In non arcu. Cras pulvinar, nisl ut commodo feugiat, felis mi sagittis mi, vel eleifend metus est at tortor. Maecenas aliquet, orci non mollis luctus, lorem neque aliquet libero, ut porttitor felis pede eu mi. Aim To deliver mid-teen returns whilst balancing the long term objective of having strong yet efficient levels of capital. Analysis The normalised return on shareholders equity was 14.3 per cent, down from 15.2 per cent reflecting the further strengthening of our capital position. Further information Normalised return on shareholders equity is calculated as the normalised profit attributable to ordinary shareholders as a percentage of average ordinary shareholders equity. Source This measure is derived from information within the Group s audited financial statements, being normalised earnings Operational Profit Revenue Contribution to Group Profit Maecenas sed lectus. Praesent eget tellus id sapien dapibus imperdiet. Curabitur ut nibh eu sapien tempor sagittis. Quisque hendrerit, eros in aliquet tempor, diam mi molestie ipsum, vitae pulvinar turpis ante ut leo. Nam diam eros, dictum a, pellentesque sagittis, ultricies at, tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Aliquam nulla orci, consectetuer non, pellentesque ac, lobortis eget, nisl. Pellentesque urna. Aliquam erat volutpat. Vestibulum posuere, magna eu consectetuer accumsan, tellus lacus molestie arcu, ut imperdiet justo leo et urna. Nullam euismod lectus vitae ligula auctor rutrum. Aenean ut libero ut risus ultricies rutrum. Proin cursus dapibus lorem. Cras lobortis, tellus sed dictum sodales, nunc nunc laoreet arcu, ut pretium velit enim ut mi. Sed nec felis quis ipsum condimentum porta. Phasellus lectus dolor, euismod sit amet, elementum vel, adipiscing a, est. In hac habitasse platea dictumst. Cras molestie, turpis vitae dictum blandit, lacus augue 1 6 9 1 11 1 6 9 1 11 12% 7 8
Annual Report 1/11 Sector review This is one of our most valuable investments, and we have been balancing the pursuit of growth with a disciplined management of costs and risks while keeping a firm grip on liquidity and capital. 5% stake in Fortress Resorts 51% stake in LB Finance Plc 5% stake in Orit Apparels Plc 51% stake in Royal Ceramics Plc Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Donec pretium ipsum tincidunt odio faucibus aliquet. Ut lobortis eleifend ligula. Nunc dictum purus ac libero. Ut augue nunc, iaculis sed, semper ac, semper ut, ipsum. In nec nunc. Morbi consequat ligula. Suspendisse condimentum, eros a porttitor volutpat, urna mauris sollicitudin ipsum, eu lacinia dui nunc vel ligula. Fusce feugiat odio in nunc. Vestibulum lobortis scelerisque est. Aenean placerat purus sit amet nulla fringilla semper. Nullam lobortis nisl sed ipsum. Maecenas lacus dui, ullamcorper non, ultricies ut, posuere in, elit. Integer consectetuer ante a mauris. Suspendisse posuere egestas nibh. Mauris massa lacus, facilisis a, bibendum non, pellentesque et, tortor. Nullam eget risus id justo commodo sagittis. Fusce lacinia pede et est. In non arcu. Cras pulvinar, nisl ut commodo feugiat, felis mi sagittis mi, vel eleifend metus est at tortor. Maecenas aliquet, orci non mollis luctus, lorem neque aliquet libero, ut porttitor felis pede eu mi. Maecenas sed lectus. Praesent eget tellus id sapien dapibus imperdiet. Curabitur ut nibh eu sapien tempor sagittis. Quisque hendrerit, eros in aliquet tempor, diam mi molestie ipsum, vitae pulvinar turpis ante ut leo. Nam diam eros, dictum a, pellentesque sagittis, ultricies at, tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Aliquam nulla orci, consectetuer non, pellentesque ac, lobortis eget, nisl. Pellentesque urna. Aliquam erat volutpat. Vestibulum posuere, magna eu consectetuer accumsan, tellus lacus molestie arcu, ut imperdiet justo leo et urna. Nullam euismod lectus vitae ligula auctor rutrum. Aenean ut libero ut risus ultricies rutrum. Proin cursus dapibus lorem. Cras lobortis, tellus sed dictum sodales, nunc nunc laoreet arcu, ut pretium velit enim ut mi. Sed nec felis quis ipsum condimentum porta. Phasellus lectus dolor, euismod sit amet, elementum vel, adipiscing a, est. In hac habitasse platea dictumst. Cras molestie, turpis vitae dictum blandit, lacus augue Aim To deliver mid-teen returns whilst balancing the long term objective of having strong yet efficient levels of capital. Analysis The normalised return on shareholders equity was 14.3 per cent, down from 15.2 per cent reflecting the further strengthening of our capital position. Further information Normalised return on shareholders equity is calculated as the normalised profit attributable to ordinary shareholders as a percentage of average ordinary shareholders equity. Source This measure is derived from information within the Group s audited financial statements, being normalised earnings 1 6 Operational Profit 9 1 11 1 6 Revenue 9 1 11 Contribution to Group Profit 12% 7 8