Category: Companies
ComBank Group posts net profit growth of 21.2-pct for Q3
Nov 15, 2019 (LBO) – Significant improvements in the third quarter, which positively impacted its year-to-date performance, have enabled the Commercial Bank Group to post creditable results for the nine months ended September 30, 2019. Comprising of Commercial Bank of Ceylon PLC, its subsidiaries and associates, the Group reported operating profit before taxes on financial […]
Hayleys Group delivers improved performance in 2Q 2019/20
Nov 14, 2019 (LBO) – Sri Lanka’s diversified conglomerate, the Hayleys Group, posted improvements in turnover, operating performance and overall profitability during the 2nd quarter of 2019/20 supported by the strong performance of its export businesses. Meanwhile, the Group also recorded an improvement in turnover and operating profit for the 1H of 2019/20, although overall […]
Sri Lankan banks facing pressure on credit profiles, rising NPLs: Fitch Ratings
Nov 13, 2019 (LBO) – Pressure on Sri Lankan banks’ financial profiles due to challenging operating conditions became more apparent in the banks’ 1H19 results, Fitch Ratings says in a new report. According to the new report, the sector’s non-performing loans (NPLs) continued to rise rapidly, up 39 percent in 1H19 (64% in 2018) and […]
Sri Lanka nominated for destination of the year award in UK for technology: SLASSCOM
Nov 13, 2019 (LBO) – SLASSCOM announced that Sri Lanka has been nominated for this prestigious award by the Global Sourcing Association (GSA). The Delivery Destination of the Year Award was established to champion best practice in sourcing programmes and to recognise and reward delivery destinations that deliver excellent results and value-add to the strategic […]
Moody’s Analytics Knowledge Services rebrands as Acuity Knowledge Partners
Nov 13, 2019 (LBO) – Moody’s Analytics Knowledge Services announced its rebrand as Acuity Knowledge Partners (“Acuity”) following the completion of its management buyout from Moody’s Corporation, supported by the European mid-market private equity investor Equistone Partners Europe Limited (“Equistone”). Acuity, a leading provider of bespoke research, analytics and automation technology to the financial services […]
Sunshine Energy’s third Hydropower Plant adds 2.4MW to national grid
Nov 11, 2019 (LBO) – Sunshine Energy (Pvt) Ltd, a fully-owned subsidiary of Sri Lanka’s diversified conglomerate Sunshine Holdings, opened its third hydropower plant Elgin recently in the Lindula Region. Sunshine Energy’s Elgin plant generates 2.4MW, contributing to the national grid. With the addition of the third plant, Sunshine Energy now contributes close to 7MW […]
Taj Lanka Hotels (TAJ) revenue up 12% as Sri Lanka tourism recovers
November 11, 2019 (LBO) – Colombo Stock Exchange (CSE) listed Taj Lanka Hotels (TAJ) reported surprisingly robust revenue growth for the quarter ended September 2019. Revenue was up 12% year over year for the second quarter to Rs704mn. TAJ, the owner of the five star Taj Samudra Hotel in Colombo, reported a small loss for […]
LSE announced the launch of Millennium platform for AAX crypto-currency trading
AAX launches as the first digital asset exchange using Millennium ExchangeTM matching engine technology Marks the first deployment of Millennium ExchangeTM in the cloud Demonstrates ability of LSEG Technology’s low-latency, resilient and scalable matching engine to support new markets and asset classes LSEG Technology, London Stock Exchange Group’s technology solutions provider, today announces that Millennium […]
Expolanka reports revenue of Rs 28.7Bn : 15-pct growth YoY
Nov 08, 2019 (LBO) – Expolanka PLC announced that it was on a sustainable growth path despite a global environment that continues to be challenging for business. The company once more credited its performance to a focus on its core logistics business, generating revenue of Rs 28.7 Bn (a 15% growth YoY) and a Gross […]
Haycarb records turnover of Rs.11.3Bn: PAT of Rs. 844.9Mn for H1 2019/20
Nov 08, 2019 (LBO) – Haycarb PLC reported revenue of 11.3 billion rupees and profit before tax of 844.9 million rupees for the six months ending 30th September 2019. The profit after tax stood at 656.7 million rupees. Haycarb PLC Managing Director Rajitha Kariyawasan said, “The growth in turnover and profitability is attributable to the […]
Dialog net profit declined 14-pct in Q3 2019 with non-cash translational forex losses
Nov 07, 2019 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in Mobile, Fixed Line, and Digital Pay TV, declined 14 percent to 1.5 billion rupees from a year earlier in the September quarter, interim accounts showed. The company said the decline in Group Net Profit After Tax is mainly due […]
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Nov 06, 2019 (LBO) – Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, BBB(lka)/Stable) proposed Sri Lanka rupee-denominated senior unsecured debentures of up to LKR1.5 billion an expected National Long-Term Rating of ‘BBB(lka)(EXP)’. The proposed debentures are to mature in three and five years and would carry fixed- and floating-rate coupons. SFL plans to […]