Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Red Ink

Dilshan Wirasekara, Chairman of the Colombo Stock Exchange

Feb 03, 2011 (LBO) - Sri Lanka's The Finance Company, being restructured under regulatory supervision, has managed to reduce losses in the December 2010 quarter but interest costs are still higher than income, a stock exchange filing showed.
buy amoxicillin online rxbuywithoutprescriptiononline.net/dir/amoxicillin.html no prescription

Net interest income fell 42 percent to 159.3 million rupees, with interest income down 29.6 percent to 585.2 million rupees and interest expenses falling 32.

8 percent to 744.6 million rupees compared with the previous year.

The Finance Company, previously managed by the Ceylinco group, said its losses fell 29.7 percent to 440.5 million rupees in the December 2010 quarter from a year ago.

The loss per share was 21.57 rupees compared with a loss of 30.67 rupees a year ago.

Public deposits fell to 23.3 billion rupees as at December 31, 2010 from 25.7 billion rupees as at March 31, 2010, the accounts showed.

Last week The Finance Company said it had raised 1.


6 billion rupees from a share sale which had been oversubscribed.
buy strattera online rxbuywithoutprescriptiononline.net/dir/strattera.html no prescription

It offered 40 million shares at 40 rupees to raise capital with depositors given a chance to convert their deposits to ordinary shares and able to sell at the market price after the new issue of shares.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Top
0
Would love your thoughts, please comment.x
()
x