FY20 Highlights Consolidated revenue of Rs.20.8 billion, a decrease of 8.0% YoY Boosts stake in Watawala Tea Ceylon to 100% PAT amounted to Rs. 1.8 billion, up 60.0% YoY, due to strong healthcare sector results Healthcare revenue up 19.7% YoY to Rs. 11.2 billion Consumer Goods revenue contracted 7.0% YoY to Rs 5.4 billion Agri…
In an effort to provide new employment opportunities for the 36 Sri Lankan workers who were stranded at the Bucharest Airport in Romania on 24 May, the Romanian Minister of Labour Violeta Alexandru had intervened and arranged to safeguard and retain the job opportunities for the Sri Lankan workers. The Sri Lankan workers had earlier…
The Advocata Institute recommends that the government removes the tax levied on menstrual hygiene products for women, this Menstrual Hygiene Day. The female population in Sri Lanka is 52% of the total population, with approximately 4.2 million menstruating women. However, for many Sri Lankan women, access to safe and affordable menstrual hygiene products has become a…
Vega Innovations has jumped in to battle Covid-19 in the tiny island nation in the Indian Ocean by developing low-cost medical ventilators. It has said that the equipment can be developed locally in any other country as well ‘by implementing the technology and design architecture Supercars can wait. So can electric supercars. Ventilators cannot. That…
Due to the coronavirus (COVID-19) pandemic, construction companies face unprecedented and completely unpredictable operating challenges. Social distancing measures and government-ordered business closures, create a maze of decisions for management teams to navigate daily. Meanwhile, Leading construction group Access Engineering PLC (AEL) in a disclosure to the CSE stated that as a result of the island…
Amidst unprecedented challenges Aitken Spence PLC has recorded a profit before tax of Rs. 4.2 billion in the financial year ended on 31 March 2020 compared to Rs. 7.3 billion last year. “The year under review experienced two black swan events with their distinctive and severe impacts within the space of one year. Aitken Spence…
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) entered into a Memorandum of Understanding (MoU) with People’s Bank this week to facilitate members of the Institute to obtain a special loan of up to Rs. 20 million. The loan scheme is available for members who have been severely affected by the COVID-19…
Seylan Bank recorded a Profit after Tax of Rs. 902 Million in Q1 despite challenging market conditions. Net interest income increased by 7.28% during the 1Q 2020 while net fee and commission income from core banking activities witnessed an increase of 2% to reach Rs. 986 Million in 1Q 2020 as compared to Rs. 966…
The global pandemic of COVID-19 has pushed socio-economic structures into a standstill and has challenged globalization and global operations of enterprises. Businesses are yet to look at alternative methods of regaining business functions, especially in the sectors which have been adversely impacted. The tourism industry has been one such sector, especially due to the severe…
LAUGFS Holdings Limited has announced the appointment of Mr. Piyadasa Kudabalage as their Group Managing Director/CEO with effect from 21st May 2020. Mr. Kudabalage, consequently will oversee the operations of LAUGFS Holdings Limited and all its subsidiaries and associates involved with multiple sectors of the economy. Mr. W. K. H. Wegapitiya and Mr. Thilak de…
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