Category:
Tele Margins
May 15, 2012 (LBO) – Profits at Sri Lanka Telecom, the island’s largest telco, fell 72 percent to 365 million rupees in the March 2012 quarter hit by exchange losses, though operating profits improved interim accounts showed. The group reported earnings of 20 cents per share for the quarter. The stock traded 38.90 up 80 […]
Hidden Gem
May 15, 2012 (LBO) –Sri Lanka’s fledgling outsourcing business, has scored well in a recent A T Kearney study, which gave high marks for the island’s skilled talent pool and a strong business environment at competitive costs. Infrastructure Sri Lanka’s infrastructure is generally far superior to that found in other low-cost countries. Being a relatively […]
Sri Lanka knitting mill losses up on write-downs, lower revenues
May 15, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, lost 3. 0 million US dollars in the March 2012 quarter, up 45 percent from a year earlier amid revenue losses and asset write-downs, interim accounts showed. The troubled firm reported losses of 6 cents per share. The stock closed at 8.00 rupees […]
Sri Lanka Cricket eyes local firms to bankroll premier league
May 15, 2012 (LBO) – Sri Lanka Cricket is targeting several top local companies to invest in a franchise, when bidding for its new premier league Twenty20 tournament opens for auction in a few weeks, officials said. The success of the Indian Premier League (IPL) has led to similar Twenty20 leagues being played in Bangladesh […]
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 […]
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 […]
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 […]
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 […]
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 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. […]
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. […]
‘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. […]