All Blogs
Sri Lanka Horana Plantations Dec net up on high tea prices
Feb 02, 2010 (LBO) – High tea prices helped Sri Lanka’s Horana Plantations to make a profit of 75 million rupees in the December, according to accounts filed with the stock exchange. Horana Plantations said the wage deal was effective from April 2009 and that wage arrears amounting to 68.05 million rupees has been recognised […]
Slow Growth
Feb 02, 2010 (LBO) – Sri Lanka’s Keells Food Products group made a loss of 54 million rupees in the December quarter largely owing to losses in its India business which however it is continuing to expand, interim results showed. Revenues of the company, part of the John Keells conglomerate, fell four percent to 513 […]
Retail Profits
Feb 02, 2010 (LBO) – December quarter profits at Sri Lanka’s largest supermarket chain, Cargills (Ceylon) group, rose 49. 1 percent from a year ago despite flat sales growth, as finance costs fell interim results showed. The group made a net profit in the December quarter of 189. 8 million rupees despite total revenues staying […]
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February 2, 2010 (AFP) – Rights monitor Amnesty International urged Sri Lanka on Tuesday to end what it described as a post-presidential election “clampdown” on the media, political opponents and human rights activists. Pressure on government critics has been mounting since President Mahinda Rajapakse was re-elected on January 26, defeating his former army chief Sarath […]
Sri Lanka stocks up 1.51-pct, plantation stocks rally
Feb 01, 2010 (LBO) – Sri Lankan stocks surged Monday as retail investors were seen betting heavily on plantation stocks, while heavy institutional interest on John Keells Holdings (JKH) pushed turnover to almost 3. 0 billion rupees, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,691.39 points, up 54.98 points, while the […]
Share Split
Feb 01, 2010 (LBO)- Sri Lanka’s Sampath Bank plans to give shareholders an extra share for every 10 held by them in a share split that would increase total listed shares to 75.7 million, it said in a stock exchange filing. The share split is awaiting shareholder approval. The share split would effetely increase Sampath […]
Sri Lanka CIC profits up on government receipts
Feb 01, 2010 (LBO) – Sri Lanka’s Chemical Industries (Colombo) has returned to profit in the December 2009 quarter helped by a 250 million rupee past due payment from the government. In its annual report last year the firm said Chemcel (Pvt) Ltd, would make a speciality chemical with a US partner and was held […]
Sri Lanka says 12 army officers sacked after election
February 1, 2010 (AFP) – Sri Lanka’s president on Monday sacked 12 senior military officers over what one army source said were fears of a coup after last week’s presidential elections. They included three senior major generals and two brigadiers accused of interfering in politics during campaigning for January 26 election, in which President Mahinda […]
Sri Lanka fabric firm hit by lower prices, smaller orders
Feb 01, 2010 (LBO) – Sri Lankan fabric manufacturer Hayleys MGT Knitting Mills said December quarter profit fell sharply owing to lower prices and loss of orders to cheaper competitors. Net profit in the December quarter fell 73 percent to 20.7 million rupees from a year ago while sales fell 17 percent to 1.3 billion […]
ECB directors must tackle mounting eurozone tensions: analysts
FRANKFURT, (AFP) – European Central Bank policymakers will confront mounting eurozone financial tensions at a meeting Thursday in the face of a brewing crisis brought on by Greece’s spectacular public deficit and debt. That the ECB’s main interest rate will stay unchanged at a record low of one percent is considered a done deal for […]