Q1 FY2019/20 has been a challenging period for Hemas with revenues 2.3% below last year. This has been, primarily, a result of the terrorist attacks of 21st April,with the aftermath causing economic slowdown and difficult trading conditions. Our profitability has been more significantly impacted as we recorded a loss before tax of Rs.140Mn. Key factors…
The Bank reported a net interest income of Rs 19.8 Bn for 1H 2019 reflecting a growth of 12.2% over the figure reported in 1H 2018, a commendable result given the challenging economic environment throughout the period under review. Operating profit before impairment charges and taxes for the period, grew by 4.6% over the corresponding…
Forbes – Legendary billionaire investor George Soros famously observed that “the most money is made when things go from terribly awful to just awful.” Coincidentally, this is also the time when hardly anyone wants to invest. Few markets in the region probably embody that adage more than Sri Lanka. Currently classified as an Asian frontier…
SriLankan Airlines has suspended operations to Cochin, India till Sunday August 11, 2019 following the closure of the airport due to floods. Cochin Airport Authority Limited announced today that all aircraft operations suspended at Kochi airport till 3 pm on Sunday. Due to prevailing adverse weather conditions, a red alert has been issued to 04…
Hayleys PLC, Sri Lanka’s most diversified conglomerate, demonstrated resilience in challenging conditions to record an improvement in turnover and operating performance during the first quarter of the 2019/20 financial year. The Group’s turnover grew by 4% to Rs.52.6 bn during the period, upheld mainly by the top line growth in Hand Protection (+10%), Purification (+24%)…
Singer (Sri Lanka) PLC results for Q1 ended 30th June 2019 indicated a Group revenue at Rs.13.9 billion, when compared to Rs. 15.1 billion during the previous year. The Group recorded Operating profit of Rs. 1,065 million for the Q1 compared to Rs. 1,284 million realized during the previous year. Group administrative and selling expenses…
Two independent UK-based tour operators Travel Gallery and Experience Travel Group hosted “Sri Lanka Revival” on 16 July in London. The event, focused on encouraging holidaymakers to return to the beautiful paradise isle, drew in over 90 UK tour operators, 40 journalists and 50+ representatives from Sri Lankan hotels and Destination Management Companies (DMCs). “The…
The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 5.3 billion and profit before tax of Rs. 367 million for the first quarter of 2019/20. The profit after tax stood at Rs. 301 million. Haycarb PLC Managing Director Mr. RajithaKariyawasan said, “Strong demand in the activated carbon market and the growth in the…
(Reuters) – Sri Lankan shares edged lower on Thursday, hovering near a two-week closing low hit early in the week, as investors sold banking and telecom stocks. ** The rupee ended slightly stronger as exporter dollar sales surpassed importer greenback demand. ** The benchmark stock index ended 0.19% weaker at 5,878.26, hovering near its lowest…
Sri Lanka also has signed the Paris Agreement which was adopted in the 21st Summit of the partners of the United Nations Framework Convention on Climate Change held in Paris in the year 2015. Accordingly, Sri Lanka is obliged for the minimization of the greenhouse emission in the year 2030 by 20% comparative to the…
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