Category: Companies
Sri Lanka’s Haycarb profit margins pressed by downturn in gold mining industry
Aug 04, 2015 (LBO) – Sri Lankan coconut shell-based activated carbon manufacture Haycarb’s June 2015 quarter profits rose 4 percent to 135 million rupees from 130 million rupees last year, the interim accounts filed with the stock exchange revealed.Haycarb PLC Managing Director Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with […]
Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient dividends
Aug 03, 2015 (LBO) – Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient attention and dividends, a former head of Sri Lanka’s main business chamber and a company chairman said.“In my view, the most important stakeholder is the shareholder,” Charitha P de Silva, a former chairman of the Ceylon Chamber of Commerce, […]
Sri Lanka’s Bansei Royal Resort to build a food village in Hikkaduwa to boost revenue
Aug 03, 2015 (LBO) – Sri Lanka’s Bansei Royal Resort, managed by resort chain Jetwing leisure group is planning to build a ‘food village’ in Hikkaduwa, a small beach town on the south coast of Sri Lanka located in the Southern Province.Given the vibe of Hikkaduwa, the company has identified the impetus for tourists and […]
” with stable outlook
July 31, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Lion Brewery (Ceylon) national long-term rating at ‘AA-(lka)’ with a stable outlook. The agency also affirmed Lion’s senior unsecured rating and the rating on its debentures at ‘AA-(lka)’. The full text of the announcement is reproduced below. Fitch Affirms Lion Brewery at ‘AA-(lka)’; Outlook Stable […]
” with stable outlook
July 30, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Continental Insurance Lanka’s national insurer financial strength rating and national long-term rating of ‘A-(lka)’ with a stable outlook. KEY RATING DRIVERS The ratings reflect CILL’s satisfactory capitalization in terms of regulatory solvency, relatively short operating history and modest market share. The ratings also reflect the […]
Sri Lanka’s Dankotuwa Porcelain to raise Rs722mn through rights issue
July 30, 2015 (LBO) – Sri Lanka’s tableware exporter Dankotuwa Porcelain is to raise 722 million rupees by way of a rights issue, the company said in a stock exchange filing.Subject to the necessary approvals, the company is to issue 90.31 million ordinary shares at 8.00 rupees each in the ratio of 5 for every […]
Sri Lanka’s Cargills profits surged in June quarter
July 30, 2015 (LBO) – Profits at Sri Lanka’s Cargills (Ceylon), with interests in retailing and fast moving consumer goods, jumped to 390.6 million rupees in the June quarter against a loss of 145 million rupees reported a year earlier, the interim accounts showed. The group reported earnings of 1.74 rupees per share for the […]
Grain Elevators could grow revenue by 10.4 pct: SC Securities
July 29, 2015 (LBO) – Ceylon Grain Elevators PLC (GRAN.N), Sri Lanka’s largest operator in the poultry industry, could grow revenue by 10.4 percent and net profit by 12.2 percent annually in the next four years, according to a research report by SC Securities. Rising consumer demand due to revised public sector salaries and higher […]
Sri Lanka’s Ceylon Tobacco 2Q net profit up 20.2 percent: Interim Report
July 29, 2015 (LBO) – Sri Lanka Ceylon Tobacco Company’s profit after tax up 20.2 percent to 3,019 million rupees in the quarter 30th June 2015 despite government excise and other taxes, interim report data showed. Ceylon Tobacco Company is engaged in the manufacture, marketing and export of cigarettes which is a subsidiary of British […]
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July 27, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned Pan Asia Banking Corporation PLC’s issue of senior unsecured debentures of up to 4.0 billion rupees, a final national long-term rating of ‘BBB(lka)’, a statement said.The said debentures will have maturities of three and four years with a combination of fixed-rate and floating-rate coupons, […]
Fitch Places Ceylon Income Fund on Rating Watch Negative
July 27, 2015 (LBO) – Sri Lanka’s Fitch Ratings has placed the National Fund Credit Quality Rating assigned to the Ceylon Income Fund of ‘A(lka)’ on rating watch negative as there is uncertainty regarding the credit quality of a significant portion of the funds’ underlying assets, a statement said. The rating agency said that this […]
Swisstek profit +25% in 3 months to June
July 27, 2015 (LBO) – Sri Lankan based Swisstek (Ceylon)’s group net profit showed a 25 percent increase to 28.9 million rupees for the three months ended June 2015, interim report said.The manufacturer of tile grout, tile mortar and decorative pebbles said revenue rose 44 percent to 509 million rupees from 354 million rupees in […]