Category: Industry
Break Even
May 16, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation made profits of 41 million rupees in the March 2012 quarter, recovering from a 111 million rupee loss a year earlier interim accounts showed. Petrol and diesel retail prices were raised in February. The firm reported earnings of 8 cents per share. […]
Sri Lanka April tourist arrivals up nine percent
May 16, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 9. 0 percent to 65,591 in April this year, which helped raise the number of holidaymakers for the first four months of 2012 to 330,116, official data showed Wednesday. The Eastern European market expanded 42. 9 percent to 26,980 visitors in April this year, helped […]
Doubled
May 16, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest bank said group profits increased 104 percent to 4.4 billion rupees from a year earlier helped by strong foreign exchange earnings. The group provided 49 million rupees for loan losses in the March 2012 quarter compared with a provision reversal of […]
Sailing Forth
May 16, 2012 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Company said profits in the March 2012 quarter rose 60 percent to 746 million rupees helped by foreign exchange gains. The firm reported earnings of 10. 39 rupees for the quarter. The stock traded at 200 rupees Wednesday, down […]
Traffic Plan
May 15, 2012 (LBO) – Sri Lanka’s Transport Ministry on Wednesday secured a Japanese grant to draw-up a master transport plan for the Colombo metropolitan region. It will review present conditions, on-going developments and future plans, to identify short and mid-term measures to improve the existing transport system, and in the long term to establish […]
Safe Zone
May 15, 2012 (LBO) – Sri Lanka’s pioneering Islamic insurer, Amana Takaful PLC plans to invest more into fixed income securities, after its bottomline was hit by falling equity prices and lower returns from gold, officials said. “The main contributor to the losses of the general insurance business is the motor business. Steps have been […]
Sri Lanka Cricket eyes local firms to bankroll premier league
May 15, 2012 (LBO) – Sri Lanka Cricket is targeting several top local companies to invest in a franchise, when bidding for its new premier league Twenty20 tournament opens for auction in a few weeks, officials said. The success of the Indian Premier League (IPL) has led to similar Twenty20 leagues being played in Bangladesh […]
Sri Lanka knitting mill losses up on write-downs, lower revenues
May 15, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, lost 3. 0 million US dollars in the March 2012 quarter, up 45 percent from a year earlier amid revenue losses and asset write-downs, interim accounts showed. The troubled firm reported losses of 6 cents per share. The stock closed at 8.00 rupees […]
Hidden Gem
May 15, 2012 (LBO) –Sri Lanka’s fledgling outsourcing business, has scored well in a recent A T Kearney study, which gave high marks for the island’s skilled talent pool and a strong business environment at competitive costs. Infrastructure Sri Lanka’s infrastructure is generally far superior to that found in other low-cost countries. Being a relatively […]
Tele Margins
May 15, 2012 (LBO) – Profits at Sri Lanka Telecom, the island’s largest telco, fell 72 percent to 365 million rupees in the March 2012 quarter hit by exchange losses, though operating profits improved interim accounts showed. The group reported earnings of 20 cents per share for the quarter. The stock traded 38.90 up 80 […]
Bank Growth
May 15, 2012 (LBO) – Profits at Sri Lanka’s Hatton National Bank group increased 26 percent to 1.53 billion rupees in the March 2012 quarter, from a year earlier, helped by strong non-interest income, interim accounts showed. The group reported earnings of 3.87 rupees per share for the quarter. The stock closed at 153 rupees […]
Growth Path
May 15, 2012 (LBO) – Sri Lanka’s Sampath Bank’s net profits for the March 2012 quarter rose 52 percent to 1.49 billion rupees from a year earlier boosted by strong foreign exchange income, interim accounts showed. The bank reported earnings of 9. 26 rupees per share for the quarter. The stock closed up 30 cents […]