Category: Companies
‘s total revenue in 2015
Mar 09, 2016 (LBO) – Ceylon Tobacco Company, a unit of British American Tobacco said the company contributed 91.6 billion rupees to the government during 2015 which accounts for 7 percent of the Government’s total tax revenue. “This constitutes approximately 88 percent of the value generated by the Company making the Government a key stakeholder […]
Sri Lanka tourism earnings up 23-pct; CSE net inflows down 97-pct in 2015
Mar 04, 2016 (LBO) – Sri Lanka’s earnings from tourism has increased significantly in 2015 recording a 22.6 percent increase against the previous year. In the twelve months to December, Sri Lanka has earned 2,980.7 million US dollars from tourism while earning 2,431.1 million US dollars in 2014. Workers’ remittances recorded a marginal decline of […]
Sri Lanka’s stock exchange launches educational web portal
Mar 03, 2016 (LBO) – the Colombo Stock Exchange on Thursday officially launched its online educational portal with the aim of improving skills and knowledge related to the capital market among public. The new portal (cse.edu.lk) which delivers content in all three languages is set to assist the CSE in reaching out to a wider […]
Singer Sri Lanka to raise Rs2bn in listed debt
Mar 02, 2016 (LBO) – Singer Sri Lanka said it is planning to raise as much as 2 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that it wanted to sell 10 million debentures of 100 rupees each. But […]
The Body Shop launches in Sri Lanka
Mar 01, 2016 (LBO) – The well-known British Cosmetics company, The Body Shop, has finally set foot in our paradise isle. “Gone are the days of relying on friends or relatives visiting from overseas to get our hands on a Body Shop pack. Now we Sri Lankans too can purchase our favourite products whenever necessary,” […]
Seylan Bank net profit up 24.4 percent for full year
Feb 29, 2016 (LBO) – Seylan Bank reported a reported a record profit after tax of 3,831 million rupees for the year ended 31st December 2015, up 24.4 percent compared with the previous year, the bank said. Profit before tax increased 24.25 percent to reach 5,777 million rupees for the year. Earnings per share was […]
CT Properties acquires Keppel CT Developments for Rs550mn
Feb 29, 2016 (LBO) – CT Properties, a subsidiary of CT holdings has acquired Keppel C T Developments Private Limited (KCT) for 550 million rupees from Edmonton Private Limited, the company said in a stock exchange filing. CT Properties held a 40 percent shareholding prior to this acquisition, the company said. It has also obtained […]
Popular international stocks take a beating, say analysts
Feb 29, 2016 (LBO) – Popular stocks are taking a beating this year due to redemptions by sovereign and wealth funds, analysts say. These companies are victims of their own success as investors sell winners to meet redemptions, according to BNP Paribas Investment Partners. For instance, Amazon.com Inc. is down 18 percent in 2016 after […]
SEC reconsiders minimum public float rule: CSE
Feb 25, 2016 (LBO) – Sri Lanka’s securities regulator is reconsidering the minimum public float rule as the intention of introducing such rule was not met, a senior official at the CSE said. Chief Executive Officer at the Colombo Stock Exchange Rajeeva Bandaranaike said the intention of introducing the minimum holding rule was to encourage […]
Dialog ventures into digital health with Asiri Hospitals
Feb 24, 2016 (LBO) – Digital Holdings Lanka, a wholly owned subsidiary of Dialog Axiata has entered in to a joint venture agreement with Asiri Hospital Holdings yesterday to provide digital health solutions. Digital Holdings holds 70 percent of the shareholding and Asiri Hospitals holds the balance 30 percent of the joint venture that was […]
Sri Lanka’s Nestlé unit net up 4-pct in Dec quarter
Feb 24, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 4 percent to 640 million rupees in the December 2015 quarter from a year earlier. The firm reported earnings of 11.92 rupees per share for the quarter against 11.44 rupees reported a year earlier. In the twelve months […]
Sri Lanka’s Ceylon Tobacco unit profits down 7.7-pct in Dec
Feb 20, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco fell 7.7 percent to 1,834 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 9.79 rupees per share for the quarter compared to earnings of 10.61 rupees per share posted a year ago. Gross revenue […]