Sunshine Holdings PLC (SUN) in a disclosure to Colombo Stock Exchange (CSE) recently said that the company’s Board of Directors resolved on 15th May 2018 to raise Rs. 775 million by way of a Private Placement through placing over 11.92 million ordinary voting shares to SBI Ven Holdings Pte Ltd at Rs. 65 per share….
The underlying fundamentals do not warrant the current pressure on the Sri Lanka rupee. Gross external reserves are presently at a healthy USD 9.1 bn and the real effective exchange rate indices indicate that the currency is competitive. The pressure on the currency is, therefore, unwarranted. The following inflows are expected to boost the current…
Reuters – Sri Lankan shares rose for a second straight session on Wednesday and closed at a one-week high, with Ceylon Tobacco Co Plc leading the gains. The Colombo stock index ended 0.42 percent firmer at 6,483.47, its highest close since May 9. It hit a five-week low on Monday. “There was slow local buying…
Sri Lanka Telecom PLC (SLT) released its Group and Company financial results for the 1st Quarter 2018, today. The group has reported EBITDA or Operating Profit before depreciation and amortization of Rs. 6.1 bn during the 1st quarter 2018, with a Year on Year increase of 8.5%. The EBITDA margin of the Group increased from…
President Maithripala Sirisena advised the National Economic Council (NEC) to hold a special one-day workshop on the government’s comprehensive economic development plan for Ministers, Members of Parliament representing the government, Ministry secretaries and Central Bank and Treasury officials. He said such a workshop will be helpful to make them aware of the plans and also…
Reuters – Sri Lankan shares ended firmer on Tuesday, edging up from a near five-week closing low hit in the previous session, led by Ceylon Cold Stores Plc, while the recent fuel price hike weighed on sentiment, stockbrokers said. The day’s turnover slumped to near one-month low as investors stayed on the sidelines, they said….
Singer (Sri Lanka) PLC announced today its results for the quarter ended 31st March 2018. The results showed an increase of 13% in revenue amounting to Rs. 13.6 Billion compared to the same quarter in previous year, in spite of challenging business conditions. In the period under review for the 3 months ended 31st March…
Partners with the Information and Communication Technology Agency (ICTA) of Sri Lanka to empower 10,000 SMBs by the close of 2018 Facebook’s global ‘Boost Your Business’ program is now available for the youth and entrepreneurs of Sri Lanka. Recognizing the potential of the country’s small business owners, Facebook has partnered with the Information and Communication…
Commercial Bank of Ceylon PLC has reported profit before VAT and NBT of Rs 7.677 billion and profit before tax of Rs 6.337 billion for the first quarter of 2018, with growth of 21.07% and 21.36% respectively signalling an exceptionally strong start to the financial year 2018. Gross income for the three months ending 31st…
The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 15.5 billion, profit before tax of Rs. 926 million and profit after tax of Rs. 774 million for financial year 2017/18. The earnings per share of equity holders of the company was Rs. 22.63 for the year. The Chairman of Haycarb PLC and its parent…
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