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...

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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...

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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...

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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...

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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...

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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 &...

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Sri Lanka: Aitken Spence PLC net earnings up by a sharp 49.6% YoY in 1QFY2011

Conglomerate, Aitken Spence PLC (SPEN) posted a net profit of LKR439.5 mn for 1QFY2011, up by a sharp 49.6% YoY mainly on the back of strong contribution from Sri Lankan leisure business and growing service sector. SPEN has its major interests in hotels, travel and tourism, cargo logistics and power generation whilst having presence in...

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Sri Lanka - Sampath Bank (SAMP) 2Q2010 Net profit up 66%

SAMP's net profit increased 66% YoY during 2Q2010 mainly backed by improving core business activities (NII grew by 9.4% YoY) and capital gains realized from the sale of Lanka Bangla shares enabled the 1H2010 net profit to increase by 58.8% YoY to LKR1,344.5 mn. With interest rates stabilizing (3 month treasury bill rate near 8%) and the...

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