Category: Companies
Access Engineering PLC opens trading at CSE
(PRESS RELEASE) – Access Engineering PLC (Access)rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) today. The Bell Ringing ceremony was organized by the CSE as part of a series featuring companies included on the S&P Sri Lanka 20 Index. Sharing his remarks at the ceremony, Chairman of CSE Mr. Vajira […]
Janashakthi reports Profit Before Tax of Rs.894 million in nine months ended 30th September
(PRESS RELEASE) – Janashakthi Insurance PLC (Janashakthi) reported a consolidated Profit Before Tax (PBT) of Rs.894 million for the nine months ended 30th September 2016, a remarkable growth of 131% over the same period in 2015. Consolidated Gross Written Premiums (GWP), which stood at Rs.9.8 billion at the end of the period in review, […]
Sri Lankan market crowded, Asian telcos under pressure in 2017: Fitch
Nov 15, 2016 (LBO) – Sri Lanka continues to be a crowded market with five operators serving a population of 21 million and set for consolidation, Fitch Ratings said in a statement. “We expect industry consolidation in India, Indonesia and Sri Lanka, as weaker telcos exit the market or seek mergers and acquisition to strengthen […]
Sri Lanka budget promotes inclusive growth: Lanka Securities
Nov 15, 2016 (LBO) – Sri Lanka’s budget 2017 promotes inclusive growth with an emphasis on education, infrastructure, SMEs and incentives for business, although growth and deficit targets seem ambitious, Lanka Securities said in a research note. “The projected 6.7 percent growth in economy, in our opinion is quite ambitious given the volatility in the […]
Sri Lanka to list Mobitel, Hyatt other state enterprises: Budget 2017
Nov 10, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said several state-owned enterprises such as Mobitel, Hyatt, Waters Edge, Grand Oriental Hotel will be listed on the Colombo Stock Exchange. The firms are to be listed during 2017, he said presenting budget proposals for 2017. “We will also list non-strategic enterprises such as […]
Nestlé Lanka’s growth at 6.1-pct in first nine months of 2016
(PRESS RELEASE) Nestlé Lanka’s growth at 6.1 % in first nine months of 2016 Sales of Rs.27.8 billion with 6.1% growth Net Profit ofRs. 3.5 billion Focuses oninnovation and renovation, in line with Nutrition, Health and Wellness agenda Recognized for work done on positively impacting local communities, supporting economic development and deliveringworld class locally manufactured […]
Hayleys PLC profits down due to Rs.459Mn, Tea and Rubber losses
(PRESS RELEASE) – (November, 07, 2016): Sri Lanka’s leading diversified conglomerate, Hayleys PLC recorded a sharp increase of 18% Year-on-Year (YOY) increase in revenue, with growth in Construction, Agriculture, and Hand Protection sectors supporting the Group to post revenue in excess of Rs. 52 billion by the end of the first half of 2016 (1H16). […]
GAAM: Net inflow of Rs534 mln for the week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/11/Weekly-Report-GAAM-05-11-16.pdf” title=”weekly-report-gaam-05-11-16″]
Ceylon Chamber concerned over pharma product pricing
Nov 07, 2016 (LBO) – The Ceylon Chamber of Commerce has expressed concerns about fixed prices on medicinal drugs announced by Government Gazette. “Sri Lanka has a strong and accessible public healthcare system, complemented by a quality private healthcare system that is catering to evolving needs of the Sri Lankan people,” the business chamber said […]
‘s exports: World Bank
Nov 07, 2016 (LBO) – Sri Lanka could grow it exports by encouraging resources to more productive firms through managing urbanization and fostering agglomeration of firms, a World Bank report states. Firms could also invest more in training their workers and managers, with active measures from the government, the report states. “Sri Lanka’s leading firms […]
Sri Lanka’s JKH net up 8-pct in September 2016 quarter
Nov 04, 2016 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings group net profits rose 8 percent to 3.8 billion rupees in the September quarter from a year earlier, the interim accounts showed. The firm reported basic earnings of 2.77 rupees per share for the quarter against 2.65 rupees reported a year earlier. Group […]
‘s Aitken Spence second quarter profits up 50-pct
Nov 07, 2016 (LBO) – Aitken Spence PLC posted 540 million rupees as profits attributable to equity holders of the company in the second quarter, an increase of 50 percent year-on-year. Pre-tax profits rose by 26 percent to 973 million rupees while revenue rose by 70 percent to 9.8 billion rupees, in the second quarter […]