Category: General Services
Sri Lanka trade deficit widens in Dec 2019
Feb 18, 2020 (LBO) – The deficit in the trade account widened in December 2019 to US dollars 784 million, from US dollars 701 million in December 2018, led by a decline in exports and a growth in imports on a year-on-year basis, the monthly external report said. However, on a cumulative basis, the trade […]
Sri Lanka vehicle registrations rebounds in Jan 2020
Feb 18, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,536 units in January up from 2,057 units in Dec but down from 3,147 units 12 months ago, a new report shows. “The recent policy interventions both in terms of fiscal policy (taxation) or capital moratoriums did not target vehicle registrations,” research firm JB […]
Sunshine Holdings’ reports PAT Rs.1.7Bn, up 32.3-pct YoY
Feb 17, 2020 (LBO) – Boosted by the divestment of its tea plantations, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported notable growth in bottom-line performances during the first nine months of the current financial year (9MFY20). During this period, the Group posted a consolidated revenue of Rs. 15.8 billion, delivering a 32.3% […]
‘s Hemas Group profit down 5-pct in 3Q amid on-going recovery
Feb 14, 2020 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 974.7 million rupees in the third quarter, down 4.9 percent from a year earlier, interim accounts showed. On a year-to-date basis, the Group’s performance has been impacted by the aftermath of the […]
Sri Lanka performs poorly on economic freedom: Focus on open trade crucial: Advocata
Sri Lanka currently ranks 104 out of 162 countries for Economic Freedom (Economic Freedom of the World Index, 2019). This is a 7 step drop from last year’s ranking, 97. The President, in his Independence day address to the nation promised “I not only respect your freedom, but I will work towards improving it and […]
Hayleys Group records 41-pct profit growth in Q3
Feb 13, 2020 (LBO) – Sri Lanka’s diversified conglomerate, the Hayleys Group, demonstrated strong resilience in the 3rd quarter of 2019/20 to achieve a 41 percent growth in profit-after-tax. The robust performance during the quarter enabled the Group to offset the subdued performance of the previous quarters, with the Group’s profit-after-tax increasing by 18 percent […]
Ogilvy Digital, now a behavioural change company
Neo@Ogilvy, Sri Lanka’s first and largest full service specialized digital media agency announced today its transformation into ‘Ogilvy Digital’, to better represent the company’s specialization and expertise in digital communication. Moving beyond the scope of a traditional digital media agency, the company’s expansive service offering includes; Digital Creativity and Strategy, Social Media Management, Data-Driven Digital […]
Dipped Products reports Rs. 23.2Bn Group turnover for nine months ending Dec 2019
Feb 13, 2020 (LBO) – Hayleys Group’s subsidiary Dipped Products PLC (DPL), a glove maker, reported 23.2 billion rupees Group turnover for the nine months ending December 2019. The Hand Protection sector contributed Rs 13.4 billion to the Group’s top line, while the Plantation sector recorded a turnover of Rs. 9.9 billion for the period. […]
WHT removal, a progressive step for MSMEs: Colombo Chamber of Commerce
Feb 12, 2020 (LBO) – Removal of withholding tax on salaries, interest, rent, and dividends is a progressive step for Micro, Small and Medium-sized Enterprises (MSMEs) of the country, said the President of Colombo Chamber of Commerce, Saranga Wijeyrathne. Commenting on the decision of the Ministry of Finance to advance the removal of WHT from […]
Singer Group Q3 FY 2019/20 records strong results
Reflecting a strong turnaround delivering an impressive surge in Q3 profits for the year 2019/20, the Singer Group reported consolidated profit after tax of Rs. 341.4 million, compared to Rs. 17.4 million in the corresponding quarter of the previous year. The mainstays of this significant improvement was due to growth across key product categories as […]
President advises to conclude surveying of land units
Feb 12, 2020 (LBO) – President Gotabaya Rajapaksa advised to expedite the surveying of the land units during a discussion at the Presidential Secretariat today(10). President Rajapaksa stated that the government has identified a total of 14mn land units and during the last 20 years 10% of it has been surveyed. President added that he […]
PUCSL asks CEB for explanation regarding recent power outages
Feb 07, 2020 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the electricity regulator is seeking an investigation report on the recent power outage from Ceylon Electricity Board (CEB), a statement said. Issuing a statement the PUCSL has asked the CEB to submit the said report on or before 12th February 2020. Sri Lanka […]