Sri Lanka: Budget 2011 - The Challenge ahead

A Challenge Ahead… President in his budget speech underscored that production drive in this decade should aim at expanding exports and replacing imports. The reallocation of the wealth of nation via altering the tax system seems pro investor as well as pro consumer, which is in line with our previous forecasts. The newly introduced tax measures...

»»  read more

Hatton National Bank (HNB) net profit up 23% YoY in 2Q2010

Hatton National Bank's (HNB) net profit has grown 23% YoY to LKR1,220.3 mn in 2Q2010 mainly on the back of a 7% YoY increase in net interest income, 25% YoY increase in non interest income and a 94% YoY reduction in provisioning cost which enabled 1H2010 net profit to grow by 10% YoY to LKR1,888.5 mn. With the economy expected to grow by...

»»  read more

Ceylon Tobacco (CTC) net earnings up by a sharp 45.1% YoY in 2Q2010

Ceylon Tobacco's (CTC) is the monopoly market operator for manufacturing, marketing and importing cigarettes in Sri Lanka. The company segregates the market based on income levels and markets Dunhill and Bensons for high income category along with Gold leaf for the middle income category, followed by Four Aces, Three Roses and Capstan for...

»»  read more

John Keells Hotels (KHL) Repositioning hits the bottom line.....

John Keells Hotels (KHL), an 82% owned subsidiary of local conglomerate John Keells Holdings (JKH) currently operates 7 hotels in Sri Lanka and 4 in Maldives. Company operates its resort portfolio under three brands; namely the premier brand Cinnamon (2 hotels under this brand), the resort hotel brand Chaya (6 hotels) and John Keells Hotels...

»»  read more

Nations Trust Bank (NTB) net profit up 86% YoY to LKR280.1 mn in 2Q2010

Nations Trust Bank's (NTB) net profit has grown by 86% YoY to LKR280.1 mn in 2Q2010, enabling 1H2010 cumulative net profit to grow by 49% to LKR494.2. Net profit in 2Q2010 grew mainly on the back of 32% YoY increase in net interest income and 55% YoY reduction in provisioning cost. With low interest rates and expected economic boom, banking...

»»  read more

Odel PLC (ODEL): Net Profit has surged two folds in 1QFY11..

Odel PLC (ODEL), one of the nation's largest fashion, apparel and cosmetics retailers has exhibited strong performance in 1QFY11, upon being listed in the Colombo bourse during the same quarter. ODEL stores offer a broad selection of merchandise and feature products from both local and exclusive international brand sources. The Company operates...

»»  read more

Tokyo Cement (TKYO): Outlook positive on the back of changing macro dynamics

Tokyo Cement's (TKYO) recorded a net profit of LKR240.5 mn in 1QFY11 (vs a loss of LKR (55.9) mn in1QFY10). TKYO posted strong net earnings on the back of 7.2% YoY growth in the top line, improved gross profit margin and 46.8% YoY dip in finance cost. The resolution to the national conflict would shape up developments in the North &...

»»  read more