YTD Revenue and EBITDA Growth 7%, PAT Out Pace Revenue and EBITDA at 44% Recommended Dividend: 40% of Earnings, 53 Cents per Share Direct Taxes, Fees and Levies to GoSL: Rs11Bn (Indirect on behalf of GoSL Rs22Bn) Continuing Capex Investments in High Speed Broadband and Other Infrastructure: Rs28.6Bn Operating Free Cash Flow Tops Rs12.3Bn YTD…
Softlogic Holdings PLC Chairman Ashok Pathirage noted that, with the new political equation, the economy would be galvanized with tourism occupying a major thrust in the government’s agenda for ensuring that the country becomes a regional shopping destination. ‘Notwithstanding this, the unforeseen Coronavirus would no doubt impact global tourism,”Pathirage said in his review accompanying interim…
Manufacturing activities expanded at a slower rate in January 2020 recording an index value of 54.0 mainly due to the slower expansion in New Orders and Stock of Purchases. New Orders, Production and Stock of Purchases sub-indices expanded at a slower pace particularly in the manufacturing of food and beverages sector with the decreasing demand…
Profit Before Tax (PBT) increases by 333%; Groups’ Net Asset Value per Share increases by 3.7% Management initiatives working positively, propelling positive financial results across all subsidiaries Sri Lanka’s leading medium sized conglomerate reputed for its market dominance in the areas of financial services, manufacturing, real estate, technology and strategic investments, Ambeon Holdings PLC…
9MFY20 Highlights Consolidated revenue of Rs.15.8 billion, a decrease of 4.9% YoY PAT amounted to Rs. 1.7 billion, up 32.3% YoY, boostd by the gain on sale of tea plantations Healthcare revenue up 20.5% YoY to Rs. 8.2 billion Consumer Goods revenue contracted 2.9% YoY to Rs 4.2 billion Agri revenue contracted 40.2% YoY to…
Siyapatha Finance PLC, a leading financial organization in Sri Lanka announced the appointment of Mr. Palavinnege Sumith Cumaranatunga as Chairman effective 12th February 2020. The appointment follows the retirement of Mr. Channa Palansuriya. Mr. Palavinnege Sumith Cumaranatunga has been an Independent, Non-Executive Director of Siyapatha Finance PLC since 30th October 2017. Presently, he is the…
Beer prices underwent an upward revision in prices in December 2019, as the reduction in Value Added Tax was revoked by a higher increase in alcohol taxes, Sri Lanka’s largest beer manufacturer, Lion Brewery Ceylon Plc said. “In line with the tax changes announced by the Government, VAT on beer was reduced to 8% w.e.f….
Designing a more efficient, equitable and sustainable motor vehicle tax system is necessary, Kia Motors (Lanka) Managing Director Mahen Thambiah said. “I think currently there has been quite a lot of work gone into getting this tax structure worked out. The Government has to look at the structure in terms of bringing it to a level playing…
The International Monitory Fund’s burden-sharing mechanism is a policy approved by the Executive Board of the International Monetary fund (IMF) in 1986 and this methodology has been adopted to reimburse the loss of income due to unpaid charges by members for various reasons. Accordingly, a request has been made to the member countries to contribute…
Sampath Bank’s Board of Directors has recommended a final cash dividend of Rs 11.75 per share to be paid for the financial year ended 31st December 2019 subject to the approval of the shareholders at the Annual General Meeting to be held on 30th March 2020. The dividend payout ratio for the year ended 31st…
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