Category: Industry
‘s Hayleys MGT Knitting Mills turns around
Nov 06, 2013 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, a knit fabric maker said it had turned around with a profit of 164,000 dollars in the September 2013 following a management shake-up and new business. The firm reported profits 0.1 cents (US dollars) per share for the quarter. In the six months […]
‘s MAS Active gets IFC trade finance
Nov 06, 2013 (LBO) – International Finance Corporation, a World Bank arm said it had given a supplier finance credit line to MAS Active, a top Sri Lanka based apparel exporter. MAS will get credit against receivable due from selected international buyers, IFC said. “In the fast-changing globally competitive apparel industry, suppliers like MAS need […]
Sri Lanka fruit and vegetable exports led by banana and cassava
Nov 05, 2013 (LBO) – Sri Lanka’s fruit and vegetable exports have been led by banana and cassava in recent years, which are grown commercially in large extents of land, which is vital to grow the industry, an official said.But analyst warn that such coercive measures will give rulers more legitimacy to undermine citizen’s liberties […]
‘s HNB Assurance net down 9-pct in September
Nov 05, 2013 (LBO) – Profits at Sri Lanka’s HNB Assurance dropped 9 percent to 50.4 amid higher claims, despite seeing strong revenue growth, interim accounts showed. The firm reported earnings of 1.00 rupee per share for the quarter.In the nine months to September the firm reported earnings of 3.10 rupees, on total profits of […]
‘s The Kingsbury out of red
Nov 05, 2013 (LBO) – Sri Lanka’s The Kingsbury Plc, a city 5-star hotel said it made profits of 26 million rupees in the September 2013 quarter, re-starting operations after going through a make-over. In the first week of September The Kingsbury raised 660 million rupees from shareholders in September. The firm reported earnings of […]
”s RIU
Nov 05, 2013 (LBO) – Sri Lanka’s Aitken Spence group said it is building a 100 million US dollar 500-roomed luxury hotel with RIU Hotels, a Spanish chain as a partner. Aitken Spence deputy chairman Rajan Brito said the hotel will be completed when an expressway in the south of the island is extended to […]
‘s Trans Asia Hotel net down 10-pct
Nov 04, 2013 (LBO) – Sri Lanka’s Trans Asia Hotel Plc, which owns Colombo’s Cinnamon Grand Hotel said profits fell 10 percent to 194 million rupees in the September 2013 quarter from a year earlier.The firm reported earnings of 97 cents per share.For the six months to September the firm reported earnings of 1.58 rupees […]
Sri Lanka Ports Authority container throughput up 8-pct
Nov 04, 2013 (LBO) – Sri Lanka Ports Authority has seen an 8 percent increase in containers handled up to October with volumes topping 2.0 million containers by October, an official said.Sri Lanka Ports Authority owns and operates the Jaye container terminal in Colombo. SLPA operations director Upali Soyza said its terminal had handled 2,066,000 […]
Sri Lanka in Sea Dream mega-yacht cruise itinerary
Nov 04, 2013 (LBO) – Sri Lanka has been included in the Indian Ocean itinerary of boutique US-based boutique cruise firm, Sea Dream Yacht Club, which caters to upmarket travellers using mega-yachts.The firm is represented in Sri Lanka by Helanka Vacations.The next Sea Dream cruise covering India, Sri Lanka and Singapore is scheduled for April […]
Vehicle Trend
Nov 04, 2013 (LBO) – Sri Lanka’s new vehicles registrations slowed across the board in September 2013 from a month earlier, though two wheelers showed growth, an analysis by an equities research house showed.New motor car sales which have been climbing for four straight months from 1,887 in June to 2,559 in August fell to […]
‘s Eden Hotel buys 76-room resort
Nov 03, 2013 (LBO) – Sri Lanka’s Eden Hotel Lanka Plc said it is buying a 76-room resort for 1.5 billion rupees from LOLC Leisure, its holding company. The company has six acres of land. In January 2012, LOLC group said it bought Dickwella Resort and Spa for 1,014 million rupees. Corrected Dickwella Resorts and […]
Outlook Cut
Nov 02, 2013 (LBO) – Fitch Ratings has lowered the outlook on Sanasa Development Bank’s ‘BB+(lka)’ rating from ‘positive’ to ‘stable’. “The revision of the Outlook on SDB reflects an unexpected deterioration in its credit profile,” Fitch Ratings said. “SDB has failed to sustain the improvement in its capitalisation and to maintain its asset quality […]