Category: Industry
Sri Lanka’s LOLC December net up 60-pct
Feb 15, 2016 (LBO) – Profits at Sri Lanka’s LOLC group which has interests in financial services, insurance, plantations, trading and leisure rose 60 percent to 2.2 billion rupees in the December quarter. The group reported earnings of 4.66 rupees per share for the quarter up from 2.91 rupees from a year earlier on last […]
‘s NDB profits up 46-pct in Dec
Feb 15, 2016 (LBO) – Sri Lanka’s National Development Bank’s profits were up 46 percent to 1,254 million rupees in the December 2015 quarter from a year earlier, interim accounts filled with the Colombo Stock Exchange said. The group reported earnings of 7.62 rupees per share. In the December quarter interest income rose 8.7 percent […]
Sri Lanka’s Carsons Cumberbatch December net up 66-pct
Feb 12, 2016 (LBO) – Sri Lanka’s Carsons Cumberbatch group profits rose 66 percent to 1.2 billion rupees in the December 2015 quarter from a year earlier, interim accounts showed. Carsons revenues were fell 9 percent to 20.6 billion rupees, while sales costs also fell 3 percent to 15.3 billion rupees, resulting in a gross […]
Aitken Spence records Rs. 1.1bn as PBT in third quarter
Leading conglomerate Aitken Spence PLC posted its interim results to the Colombo Stock Exchange (CSE) released on Friday. The blue-chip’s financial results for the quarter ended 31st December 2015 saw profit-before-tax decrease by 25.3 per cent to Rs. 1.1 bn while profit attributable to equity holders decreased by 26.7 per cent to Rs. 637 mn. […]
SEC assigns Special Purpose Audit for Blue Diamonds
Feb 12, 2016 (LBO) – Sri Lanka’s securities regulator has assigned Ernst & Young to carry out a Special Purpose Audit to check several allegations made against Blue Diamonds Jewellery Worldwide. Releasing a statement Securities and Exchange Commission said they received several complaints alleging that the Director Board has misled their shareholders and investors through […]
Laugfs acquires mini hydropower operator for Rs200mn
Feb 12, 2016 (LBO) – Sri Lanka’s Laugfs Power, a subsidiary of quoted Laugfs Gas has acquired the total issued shares of Pams Power private limited for 200 million rupees. Laugfs Gas said in a stock exchange filing that Pams Power is holding all rights for the development and operation of a 2 MW capacity […]
JVP askes government to tax Lanka IOC for excess profits
Feb 12, 2016 (LBO) – Sri Lanka’s Marxist Janatha Vimukthi Peramuna on Thursday called on the government to tax Lanka Indian Oil Company for excess profits the company is making. Speaking at a press briefing the General Secretary of JVP, Tilvin Silva said the Sri Lankan government is currently giving subsidies to Indian companies. “This […]
Sri Lanka’s Colombo Port records highest daily volume of 22,422 TEUs
Feb 12, 2016 (LBO) – Sri Lanka’s Ministry of Ports and Shipping said the Colombo Port recorded its highest daily handling of 22,422 TEUs on 9 February, up from 22,186 recorded on 28 April last year. Of the total 22,422 containers handled at Colombo port Tuesday, 9, 875 or 44 percent had been done at […]
Sri Lanka’s Hayleys December net down 27-pct
Feb 11, 2016 (LBO) – Profits at Sri Lanka’s diversified Hayleys group fell 27 percent to 534 million rupees in the December 2015 quarter, interim accounts showed. The firm reported earnings of 7.12 rupees for the quarter 2015 compared to last year earnings of 9.81 rupees on profits of 736 million rupees. The group revenue […]
Customs duty increase on imported rice approved by cabinet
Feb 11, 2016 (LBO) – The government recently decided to increase the import duty on rice from 35 rupees to 50 rupees per kilogram effective from February 01, 2016. Finance Minister Ravi Karunanayake’s proposal to submit the relevant Gazette Notification under the “Revenue Protection Act” to the parliament for approval, has been approved by the cabinet […]
Sri Lanka invites proposals for Colombo Port East Container terminal
Feb 11, 2016 (LBO) – The cabinet has decided to invite expressions of interest and business proposals from interested parties for Colombo Port’s East Container terminal. The cabinet has also decided to appoint the Asian Development Bank as the project’s Transaction Adviser. The second deep-water terminal in the Colombo Port Expansion Project is the East […]
Sri Lanka can be pendent in the necklace: Tourism officials
Feb 11, 2016 (LBO) – Sri Lanka is a market on the verge of taking off as tourist hot spot and the island should try to lure more brands into the country, a senior industry official said. “Sri Lanka is the pendent in the necklace, you have unique location right in the middle of the […]