Author: lbostgadmin
Growth Path
May 15, 2012 (LBO) – Sri Lanka’s Sampath Bank’s net profits for the March 2012 quarter rose 52 percent to 1.49 billion rupees from a year earlier boosted by strong foreign exchange income, interim accounts showed. The bank reported earnings of 9. 26 rupees per share for the quarter. The stock closed up 30 cents […]
Safe Zone
May 15, 2012 (LBO) – Sri Lanka’s pioneering Islamic insurer, Amana Takaful PLC plans to invest more into fixed income securities, after its bottomline was hit by falling equity prices and lower returns from gold, officials said. “The main contributor to the losses of the general insurance business is the motor business. Steps have been […]
Sri Lankan shares up 0.19 percent
May 15, 2012 (LBO) – Sri Lankan share prices crept up on Tuesday, pepped-up by investor interest in selected bluechip counters, but the overall market sentiment remained subdued, brokers said. The benchmark All Share Price Index gained 9.98 points or 0.19 percent to close at 5,126.29 while the more liquid Milanka Price Index added 10.94 […]
Sri Lanka hopes narrow current account gap, despite strong capital flows
May 14, 2012 (LBO) – Sri Lanka’s central bank is expecting to increase foreign reserves in 2012 and narrow the current accounts deficit in the balance of payments, despite strong capital inflows, which will increase domestic spending power. BOP Surplus The bank is projecting a 1.25 billion US dollar ‘balance of payments’ surplus for 2012. […]
Jubilee Party
May 14, 2012 (LBO) – The British High Commission in Sri Lanka on Monday launched an online competition to give people a chance to attend Britain’s Queen Elizabeth’s jubilee party in Colombo. Local fans of the British Royal family have to visit the High Commission’s Facebook page (www.facebook.com/bhccolombo) and write 60 words on its wall […]
Sri Lanka Finlay estate profits down 52-pct in March
May 14, 2012 (LBO) – Profits at Udapussellawa Plantations, a unit of Sri Lanka’s James Finlay group fell 52 percent in the March 2012 quarter with revenues hit by weak performance in rubber, interim accounts showed. The firm reported earnings of 55 cents for the quarter. Revenues fell 5 percent to 747 million rupees. Cost […]
Fee Boost
May 14, 2012 (LBO) – Sri Lanka’s NDB Bank group said net profits in the March 2012 quarter rose 19 percent to 720 million rupees, helped by strong foreign exchange income, interim accounts showed. The group reported earnings of 4. 39 rupees for the quarter. Group return on equity was 16.8 percent up from 15.64 […]
Forex Boost
May 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon, the island’s largest private lender in terms said group profits in the March 2012 quarter rose 38 percent to 2.8 billion rupees, helped by foreign exchange gains. The bank reported earnings of 3. 42 rupees per share for the quarter. The stock closed at […]
Sri Lankan stocks end losing streak
May 14, 2012 (LBO) – Sri Lankan share prices on Monday edged up after nine straight days in the red, largely driven by buying interest in oil palm stocks, brokers said. Monday’s turnover was dominated by conglomerate John Keells Holdings PLC, which has investments in leisure, financial services, IT and transport. JKH, the largest capitalised […]
Sri Lanka year-end inflation targeted at below 7-pct
May 13, 2012 (LBO) – Sri Lanka’s central bank is targeting average inflation to be around 6-7 percent and is expecting year end inflation at 7. 0 percent or below Central Bank governor Nivard Cabraal said. While the so-called ‘annual average inflation’, is a number averaged over two years and is difficult for ordinary people […]
‘s Balangdoa Plantations net down 49-pct
May 13, 2012 (LBO) – Profits at Sri Lanka’s Balangoda Plantations, a unit of listed Distilleries Corporation fell 49 percent to 67 million rupees in the March 2012 quarter, hit by falls in rubber sales, interim accounts showed. The firm also paid 19 million rupees in management fees down from 52 million a year earlier. […]
Narrow Play
May 13, 2012 (LBO) – Profits at Sri Lanka’s PABC Bank was flat at 196 million rupees in the March 2012 quarter as interest margins narrowed and personnel expenses spiked, interim accounts showed. The bank reported earnings of 67 cents per share for the quarter. The stock closed at 18.90 rupees down 40 cents Friday. […]