Lion Brewery - An impressive leap to LKR189.99 mn in 3QFY10 vs LKR39.70 in 3QFY09

Lion Brewery (Ceylon) PLC (LION) has recorded a 378% YoY growth in net profit to LKR189.9 mn in 3QFY10. This was predominantly driven by the festive season in play during the quarter blended strongly with northern and eastern provinces opening for trade. We believe a strong revival in demand for soft alcohol/beer would emerge with LION's expansion strategies underpinned by the opening up of the new markets in the war torn provinces,...

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NDB Bank's net profit up 30% YoY in FY2009

National Development Bank's (NDB) net profit for FY2009 has increased by 30% YoY to LKR 2.1 bn, even though net profit 4Q2010 has dropped by 10.4% YoY. Interest margins have increased to 3.99% from 3.62% resulting from deeper drop in borrowing costs. Interest yield for FY2009 is 14.12%, decreasing 0.74 percentage points from 14.86% FY2008. Interest cost for FY2009 was 10.13%, decreasing 1.11 percentage points from 11.24% in FY2008....

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Distilleries :Outlook positive despite earnings dampened due to non-recurrent event (3QFY10 net profit dipped 37.4% YoY)

Distilleries (Sri Lanka's dominant hard liquor manufacturer with investments in diverse businesses) has posted a consolidated net profit of LKR841.4 mn, down by 37.4%YoY in 3QFY10. DIST's hard liquor business has contributed LKR939.7 mn (down 14.0%YoY) to the consolidated 3QFY10 net profit. The consolidated 3QFY10 operating profit has dipped by 32.7%YoY to LKR1,160.7 mn whilst the operating margin has improved to 22.8%...

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Plantation Sector : Strong earnings despite wage hike

Sri Lankan tea prices marked a strong recovery from 2QFY10 onwards where it touched the highest ever prices in mid September which was recorded at LKR456 per kg (up 70% YTD). The upswing was mainly attributable to the global supply shortage created by the production deficit in Kenya, India and Sri Lanka due to unfavourable weather conditions. Natural rubber prices which were at the lowest ever (LKR120 per Kg in December 2008)...

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Dialog Telekom : Is it the end of dark days?

Revenue has increased by 9% YoY to LKR9.6 bn in 4Q2009 fuelled by positive gains in the mobile market on the back drop of aggressive price competition. Net loss (excluding one-off charges) has been converted to a net profit (excluding one-off charges) of LKR761 mn owing to the improvements in mobile telephony operations, which made a Post Tax Profit of LKR1.2 bn on normalised basis. DIAL's better performance particularly...

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AHPL' net earnings grow by 73% YoY to LKR158.2 mn in 3QFY10

Asian Hotels & Properties (AHPL) has recorded a near 73% YoY growth in earnings to LKR158.2 mn in 3QFY10 predominantly driven by the hotel sector performance. During the quarter the hotel sector contributed circa 75% of company's top line and bottom line. lUnderstandably, the hotel sector (City hotels Cinnamon Grand and TRAN) performed considerably well (LKR117.9 mn in 3QFY10 vs LKR29.1 mn in 3QFY09) where the occupancy levels...

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Stafford Hotels : In the era of renaissance.

STAF has exhibited overwhelming performance, posting a fourfold growth in net earnings YoY to LKR13.2 mn in 3QFY10. The cumulative 1-3QFY10 net profit has also   recorded an impressive growth of 84% YoY to LKR28.9 mn. STAF's revenue has not only been supported by high occupancy levels, but also by the improved room rates, where STAF sustained an occupancy level of 87% round the quarter and also maintained an Average...

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Hayleys : 1-3QFY10 net earnings record three-fold increase

Conglomerate, Hayleys PLC (HAYL) posted LKR278.9 mn net earnings for 3QFY10 (Vs LKR74.3 mn in 3QFY09) whilst recording LKR831.5 mn, a four-fold increase for the first nine months of the year. HAYL's post tax earnings have increased three-fold during the quarter in concern, resulting cumulative earnings of LKR831.5 mn which has recorded a stunning four-fold growth when compared with the corresponding period last year. This is...

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RCL's net profits up 124.3% YoY to LKR366.3 mn in 3QFY10 and outlook continues to be vivid

Royal Ceramic's (RCL) net earnings have increased by 124.3%YoY to LKR366.3 mn in 3QFY10 whilst the bottom-line grew by 61.0%YoY during the 9 months to LKR650.1 mn, mainly driven by strong demand and improved sales mix in the sizes of tiles (Bigger tiles tend to have higher margins). RCL's gross turnover has grown 26.6% YoY to LKR1,550.9 mn on the back of a near 16% increase in sales volumes in 3QFY10 due to increased demand from...

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AHUN records 20% top-line growth despite the off season in tourist

Aitken Spence Hotel Holdings' (AHUN) has recorded a net profit of LKR210.5 mn in 3QFY10 from a loss of LKR105.8 mn in 1HFY10, which is directly attributable to the reviving domestic tourism with higher occupancies and earnings from its Maldivian hotels. We believe that with the complete end to 3 decade long terrorist conflict coupled with the favourable macro economic outlook, the hotel sector would mark a turnaround in the...

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Lanka Tiles has recorded a staggering 71% YoY growth in its 3QFY10 net earnings

Lanka Tiles (TILE) net earnings have increased by 71%YoY to post a net profit of LKR107.9 mn in 3QFY10. TILE's net sales increased by 23% YoY in 3QFY10 to LKR787.1 mn on the back of 97%YoY increase in export sales and 16%YoY increase in local sales which was triggered by the strong demand from the construction boom in the North and East of the country. During the 3QFY10 Cost of Sales of the Company increased by 17% while the...

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Ceylon Tobacco : 2009 net earnings grow by a staggering 49% YoY

Ceylon Tobacco (CTC) has posted a net profit of LKR2,020.6 mn in 4Q2009 (up 59.9% YoY) whilst total earnings for 2009 are also up by a strong 49% YoY to LKR4,112.6 mn . Earnings have been driven by a sharp 10.5% YoY growth in net revenues to LKR12,353.9 mn, supported by a shift into high margin brand/product mix along with the company's focus on effective cost rationalisation where the company has been able to cut down its cost...

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Chemical Industries : 3QFY10 earnings record an impressive growth to reach LKR327.2 mn

Chemical Industries Colombo (CIC) has reported an impressive net earnings growth in 3QFY10 to reach LKR327.2 mn (vs LKR(21.3) mn in 3QFY09). CIC's 3QFY10 profits have been driven predominantly by the key agriculture and livestock sector (EBIT up 242%YoY) coupled with 658.9%YoY increase in other income (mainly the subsidy payments for fertilizer received from the government) and improved contribution from the construction sector...

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