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Group Result
Feb 14, 2014 (LBO) – Profits at Sri Lanka’s DFCC Bank group rose 3.8 percent from a year earlier to 791 million rupees in the December 2013 quarter helped by fair value gains and interest income, interim accounts showed. The firm reported earnings of 2.99 rupees per share for the quarter. For the nine months […]
Sri Lanka stocks close lower
Feb 13, 2014 (LBO) – Sri Lanka stocks close 0.02 percent lower for the second consecutive day with diversified stocks losing ground, brokers said. Commercial Leasing and Finance closed 10 cents higher at 4.10 rupees and Cargills Ceylon closed 1.00 rupee lower at 147.00 rupees. Bukit Darah ended 10 cents lower at 600.30 rupees and […]
Sri Lanka Taj unit in losses amid refurbishment
Feb 13, 2014 (LBO) – Sri Lanka’s Taj Lanka Hotels Plc, a unit of India’s Taj Hotels and Resorts said it lost 118 million rupees in the December 2013 quarter as the hotel went through a refurbishment.Revenues were down 34 percent to 355 million rupees, cost of sales fell 2 percent to 388 million rupees […]
Retail Trend
Feb 13, 2014 (LBO) – Profits at Sri Lanka’s Odel Plc, a fashion retailer fell 40 percent to 46.0 million rupees in the December 2013 quarter from a year earlier, amid weaker sales and narrower margins, interim accounts showed.The firm reported earnings of 17 cents per share for the quarter. In the nine months to […]
Sri Lanka stocks close 0.4-pct down
Feb 12, 2014 (LBO) – Sri Lanka stocks close down Wednesday with tobacco and finance stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 28.67 points lower at 6,084.48, down 0.47 percent. The S&P SL20 closed 12.39 points lower at 3,336.96, down 0.37 percent. Turnover was 548.63 million rupees, down from […]
Upgraded
Feb 12, 2014 (LBO) – RAM Ratings Lanka said it had upgraded a ‘BB-‘ rating of BRAC Lanka Finance Plc (formerly Nanda Investments, by two levels to ‘BB+’ following an ownership change. l The rating has a stable outlook. Bangladesh-based BRAC bought into the firm and RAM said support was expected from the parent. The […]
Boat People
COLOMBO, February 12, 2014 (AFP) – Sri Lanka’s police arrested 75 would-be asylum seekers on Wednesday, including nine women and six children, who were trying to leave for New Zealand illegally by boat, police said.The group was arrested in the southern coastal town of Moragolla, the first large-scale arrest of nationals in months after Australia, […]
Sri Lanka ends 2013 with US$7.2bn in foreign reserves
Feb 12, 2014 (LBO) – Sri Lanka’s foreign reserves rose 4.6 percent to 7,200 million in December 2013 from a year earlier, despite payments to the International Monetary Fund and losses on gold holdings, official data showed. But in pegged exchange rate monetary systems ‘reserves’ are invested abroad such as in liquid US Treasuries and […]
Sri Lanka Treasuries yields mixed
Jan 11, 2014 (LBO) – Sri Lanka’s short term Treasuries yields fell at Tuesday’s auction from two weeks ago, but the 12-month yield was steady from a week earlier, data from the state debt office showed.The debt office offered 12.0 billion rupees of bills for auction and accepted 20.8 billion in bids. Last week bids […]
Sri Lanka gilt dealer begins trading listed debt
Feb 11, 2014 (LBO) – Sri Lanka’s first gilt dealer has begun trading listed corporate debt in the Colombo Stock Exchange kicking off a process that could improve liquidity and secondary trading, officials said.Capital Alliance Ltd (CAL), a primary dealer in government securities became the first firm to trade as a dealer-broker Tuesday, under new […]