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Sri Lanka Property Development gets in to hydro-power

Apr 25, 2011 (LBO) - Sri Lanka's Property Development, a subsidiary of the state-owned Bank of Ceylon, has acquired hydro-power company for 23.
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6 million rupees. The acquisition of a 95 percent stake in Koladeniya Hydropower was revealed in the company's financial results for the March 2011 quarter filed with the Colombo stock exchange.
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Property Development's profit rose 12.6 percent to 75 million rupees in the March 2011 quarter from a year ago while sales rose 11.

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2 percent to 120 million rupees.
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