Category: Companies
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 […]
SEC files action against Wegapitiya & others for market manipulation in Laugfs Gas
Nov 05, 2019 (LBO) – Sri Lanka’s Securities & Exchange Commission (SEC) today filed an action in the Colombo Fort Magistrate Court against W.K.H. Wegapitiya, U.K. Thilak N. De Silva and Thakshila I. Hulangamuwa. The action is related to the commission of the offence of market manipulation, conspiracy to commit market manipulation and for aiding […]
Sri Lanka economy to grow 3.5-pct in 2020: Central Bank
Nov 05, 2019 (LBO) – The Sri Lankan economy is projected to grow by around 3.5 percent in real terms in 2020, a new Central Bank report says. “The growth is expected to be broad-based and positively contributed by all major economic activities,” it says. “Further, investor confidence, which was adversely affected by domestic uncertainties, […]
Fitch affirms Melstacorp &”; outlook stable
Nov 04, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of Sri Lanka-based conglomerate, Melstacorp, and its subsidiary, Distilleries Company, at ‘AAA(lka)’. The Outlook is Stable. Fitch rates DIST based on the consolidated profile of Melstacorp due to strong legal and operational linkages between the two entities, as defined in our Parent […]
ComBank receives best bank award from Global Finance
The Commercial Bank of Ceylon was recently presented the award for ‘Sri Lanka’s Best Bank in 2019’ by the USA-based Global Finance magazine at the 26th Annual Best Bank Awards Ceremony held at the National Press Club in Washington, DC on the sidelines of the annual meetings of the IMF and World Bank. The Bank’s […]
Fin Min says LPG supplies on the way
Nov 04, 2019 (LBO) – Sri Lanka’s Finance Ministry says an emergency purchase of 12,000 metric tonnes of liquefied petroleum gas is on its way following panic buying that was triggered earlier. A ship with 3,600 metric tonnes of LPG reached Colombo on Saturday November 02, and another ship with 3,600 MT will reach Colombo […]
JKH Sept quarter net profit down 55-pct amid Easter Sunday impacts
Nov 01, 2019 (LBO) – Sri Lanka’s diversified John Keells Holdings said its profits for the second quarter were mainly impacted by the Easter Sunday impacts on the leisure businesses and the decline in finance income. The profit attributable to equity holders in the second quarter at Rs.2.29 billion is a decrease of 55 percent […]
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Nov 01, 2019 (LBO) – Moody’s Investors Service has affirmed the long-term/short-term local currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank (HNB) and Sampath Bank at B2/NP. At the same time, Moody’s has affirmed the long-term foreign currency issuer ratings and long-term/short-term foreign currency deposit ratings of these three banks at B2 […]
Seylan Bank records profit after tax of Rs. 2.6Bn in 3Q 2019
Oct 31, 2019 (LBO) – Seylan Bank closed the nine months ending 30th September 2019 with a post-tax profit of Rs. 2,554 Mn, a marginal increase of 1% over the corresponding period last year. Growth in advances coupled with the rise in interest rates enabled interest income to grow by 16.77% and interest expenses increased […]