Lion Brewery (LION) Net earnings of LKR596.8 mn in FY2010 (Vs LKR45.1 mn in FY2009)

Lion Brewery (Ceylon) PLC [LION:LKR105] has exhibited an impressive performance to conclude FY2010 where net earnings grew to LKR596.8 mn from LKR45.1 mn in FY2009. The bottom line of 4QFY10 grew by two fold YoY to LKR213.6 mn (recording a QoQ growth of 12.5%). LION, the 50.4% owned subsidiary of Ceylon Brewery [BREW: LKR176.00], is by...

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Tokyo Cement (TKYO) FY10 net profit down 16%YoY

The market leader, Tokyo Cement's (TKYO) recorded a net profit of LKR291.5 mn in FY10 (down 15.9% YoY) however the 4QFY10 exhibited 108.4% YoY growth to post a net earnings of LKR233.9 mn. Subsequent to the poor 9 months performance, TKYO's 4QFY10 turned around strongly as expected nevertheless the growth has been spearheaded by the sharp...

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Nations Trust Bank (NTB) net profit up 19% YoY to LKR214.1 mn in 1Q2010

Nations Trust Bank's (NTB) net profit has grown by 19% YoY to LKR214.1 mn in 1Q2010, broadly inline with our forecast. The net profit growth in 1Q2010 was driven by a 17.5% YoY growth in net interest income and 56.8% YoY reduction in provisioning costs. With low interest rates and expected economic boom, banking sector outlook remains...

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NDB Bank's net profit down 34% YoY in 1Q2010

National Development Bank’s (NDB) net profit has decreased by 34% YoY to LKR299.3 mn in 1Q2010. The net profit dip during 1Q2010 was mainly attributable to the drop in net interest income by 8.5% YoY and 19.6% YoY increase in operating cost. Thus the gains made in other income, improvement in provisioning costs and reduction...

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Hatton National Bank (HNB) Net profit down 9% YoY in 1Q2010

Overview Hatton National Bank’s (HNB) net profit has dipped 9% YoY to LKR649.7 mn in 1Q2010 mainly on the back of 14% increase in non interest expenses and 34% increase in corporate taxes. With the economy expected to grow by circa 6%-7% during the next few years and contributions from the previously war affected North and East to the main...

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Dipped Products PLC (DIPD) net earnings up by a sharp 33% YoY in FY2010

Dipped Products PLC (DIPD) is the fully integrated and globally acknowledged rubber glove manufacturing arm of the local conglomerate Hayleys PLC (HAYL: LKR280.00). Currently DIPD exports its products to +60 countries and enjoys a 5% global market share for natural and synthetic latex based domestic, industrial and medical gloves. DIPD...

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HAYC records highest ever profits - Net earnings up by a staggering 182% YOY

Haycarb PLC (HAYC) a 67.7% owned subsidiary of Hayleys PLC (HAYL: LKR218.75), which commenced operations in 1973 accounts for circa 16% of the global activated carbon production. As the leading coconut shell based Activated Carbon (AC) producer, it has an installed capacity of 22,000 MT per annum with 04 manufacturing plants strategically...

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NEST’s net profit up by 3.7%YoY to LKR482.4 mn in 1Q2010

Nestle Lanka (NEST : LKR526.0) was established in 1980 and manufactures a range of food under the license of its Swiss principle. NEST is 90.8% owned by parent Nestle SA. The company's main products are marketed under established brand names such as Nestomalt, Nespray, Maggi, Milkmaid, Milo, Nescafe etc. NEST has recorded a 3.7% YoY growth in net earnings during 1Q2010 to LKR482.4 mn. With the integration of north and east into...

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DFCC Vardhana Bank reports robust growth in 2009; PAT up by 141%

DFCC Vardhana Bank (DVB), the everyday banking unit of the pioneer development bank, DFCC Bank reported a robust growth in the most vital areas of operations, in spite of the adverse economic conditions which prevailed globally.Total assets at the close of the year amounted to Rs 31,336 million, reflecting a 26.3% growth over the assets as...

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Dialog Telekom : Net Profit up by 138% YoY to LKR705 mn in 1Q2010

Dialog Telekom (DIAL), Sri Lanka's leader in mobile telephony, has recorded an impressive 138% YoY increase in earnings to LKR705 mn in 1Q2010 on the back of increased subscriber base and strategic cost rationalization efforts. EBITDA has increased by 170% YoY to LKR3.3 bn in 1Q2010 on the back of other operating costs being reduced by a significant 64% YoY following a successful cost rescaling exercise. Further the EBITDA margin...

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Chevron Lubricants : Lube Luck continues to boost net earnings by 61.0% YoY

Chevron Lubricants (LLUB) has posted a net profit of LKR375.0 mn in 1Q10 (vs LKR232.9 mn 1Q09) due to high gross profit margin enjoyed on the back of low raw material cost, broadly inline with our expectation. LLUB's turnover has remained flat to LKR2, 291.5 mn in 1Q10 however the top line grew by 9.6% QoQ. 1Q10 saw an improvement (approximately 3%-4% YoY) in volume growth compared to the corresponding previous period due to...

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Seylan Bank shows signs of recovery

Seylan Bank (SEYB) has recorded a net profit of LKR195.5 mn in 1Q2010. The bank's bottom line has grown from a considerable portion when compared to 1Q2009. Though the core business activity has improved the escalation of provisioning costs has hindered the profitability of SEYB in 1Q2010. Net interest income (NII) has grown by 52.4% to LKR1,760.8...

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Royal Ceramics - RCL's FY10 net profit up 86.2% YoY to LKR964.3 mn

Royal Ceramic's (RCL) net earnings have increased by 86.2%YoY to LKR964.3 mn during FY10 whilst the bottom-line grew by an impressive 175.3%YoY during 4QFY10 toLKR314.2 mn. This was mainly driven by strong demand and improved sales mix in the sizes of tiles. RCL's net turnover has grown 19.0% YoY to LKR4,451.2 mn during FY10 on the back of the remarkable growth seen during the second half of the year. The company has posted a...

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Hatton National Bank (HNB) - The Progressive Partner

Business Profile & Corporate History Wide ranging business profile. Hatton National Bank PLC (HNB) is Sri Lanka’s second largest private sector bank in terms of assets (behind Commercial Bank of Ceylon) and is the fourth largest amongst all banks (after accounting for the two state banks, Bank of Ceylon and Peoples’ Bank). HNB accounts...

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