Piramal Glass Ceylon PLC (PGC) completed yet another challenging year with highest ever export turnover, PAT of Rs 346 Mn & the Overall Turnover crossing the Rs. 7 Bn mark. A total revenue achieved for the year was Rs.7,398 Mn as against Rs.6,816 Mn of the previous year. The domestic revenue remained almost at par…
Sri Lanka’s financial market regulator Central Bank (CBSL) will be introducing a 25% percent ownership limit in licensed finance companies (LFCs) following stakeholder consultations on the plan, a recent consultation paper calling for public views outline on the Central Bank’s website. A letter from Central Bank said that the new move is to strengthen…
Reuters – Sri Lankan shares closed slightly higher on Wednesday, extending gains into a fourth session, but trading volume slumped to a near three-week low. ** Traders said the Easter day bombings and aftermath violence weighed on investor sentiment. Most investors have shied away from the market since the April 21 bombings that killed more…
Many Sri Lankans remained unaffected by the social media blocks of March 2018, according to the AfterAccess surveys recently launched in Sri Lanka by Regional ICT policy think-tank, LIRNEasia. More than half (58%) of Sri Lankan social media users aged 15-65 thought that government blocking social media or internet during times of national unrest was…
Sri Lankans have always indicated resilience and drive Focus on fiscal consolidation continues Macro-economic fundamentals remain in-tact Net foreign inflow by foreign investors since April 21 Market indicating attractive valuations compared to peers The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), in a bold step to reassure foreign…
Headline inflation as measured by the yearon-year change in the National Consumer Price Index (NCPI, 2013=100) increased to 3.6 per cent in April 2019 from 2.9 per cent in March 2019 due to the monthly increases of prices of items in both Food and Non-food categories. Meanwhile, in April 2019, yearon-year Food inflation was -1.2 per cent while Non-food inflation continued its…
Sri Lanka’s largest beer seller Lion Brewery PLC (LION) in their latest quarterly review highlights that Government revenue from the country’s beer industry grew by Rs. 8.2 billion to Rs. 35.4 billiojn during the financial year ended 31st March 2019. The financials of LION highlights that during the 12 months ending 31st March 2019, on…
Legal Cigarette price shot up by 30% within past 9 months due to Excise Duty hike Sri Lanka’s Ceylon Tobacco Company PLC (CTC) in their latest quarterly financials outline that the Government increasing the Excise duty on cigarettes in August 2018 and March 2019 lead to a price increase of legal cigarettes around 30%…
The iconic Sri Lankan multinational, Hayleys PLC, recorded outstanding growth in revenue and operating profits in the financial year ended 31st March 2019 (FY18/19). The Group revenue expanded by 34% YoY to Rs. 219 bn while operating profit before interest increased by 40% YOY to Rs.15.9 bn. The Group Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) for…
Reuters – Sri Lankan shares closed higher for a third straight session on Tuesday, moving further away from a near seven-year closing low hit last week, as local investors bought beaten-down stocks. ** Traders, however, said sectarian violence still weighed on investor sentiment. Most investors have shied away from the market since the April 21…
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