Category: Sri Lanka
hSenid Business Solutions PLC: Financial Performance for year ended 31st March 2024
hSenid Business Solutions PLC (hBS) reported total revenue of LKR 433.0 million for the three months ending on March 31, 2024 recording a year-over-year growth of 10.7 percent (21.1 percent in USD constant currency terms) compared to LKR 391.0 million in the corresponding quarter of the previous financial year. For the full year FY24, hBS…
TJ Lanka PLC: Financial Review as at 31st March 2024
Teejay Group closed the fourth quarter of FY 2023/24 with an outstanding Profit After Tax improvement of 260% YoY, and 15% improvement QoQ, signifying a positive end to the financial year under review. The positive improvements were achieved due to timely execution of strategic initiatives implemented during the period under review, including stringent inventory management…
Lion Brewery PLC: Financial Review as at 31st March 2024
The economic pressures continued during the quarter under review, with excise taxes increasing by 14% in January 24, which was on top of a 20% duty hike in July 2023 for the 23/24 financial year. VAT was also higher by 3% vs prior year quarter. The escalation in price of alcoholic beverages has brought further…
Hayleys PLC reports 46% decline in profits for year ended 31st March 2024
Based on the provided context from the interim report for Hayleys PLC for the quarter ended 31st March 2024, the following key financial figures can be highlighted to assess the company’s profitability and financial performance: Profit for the Period: Earnings Per Share (EPS): Revenue: Cost of Sales: Profit Before Tax: Net Finance Costs: Depreciation on…
Dipped Products PLC: Financial Performance for the year ended 31st March 2024
Based on the provided context from the interim report for Dipped Products PLC for the year ended 31st March 2024, the company’s profitability can be summarized as follows: Future Outlook The future outlook for Dipped Products PLC should be considered in light of its recent performance, industry trends, and the broader economic environment. As of…
Pan Asia Bank posts Steady Performance in 1Q 2024
Pan Asia Banking Corporation PLC reported a steady performance reflecting improved macro-economic conditions as the Bank reported its financial performance during 1Q 2024, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality in challenging times. The Bank reported a Pre-tax Profit of Rs. 796 Mn for the…
Sri Lanka Telecom PLC: Financial Performance 1Q2024
Based on the interim condensed consolidated financial statements for the quarter ended 31 March 2024, Sri Lanka Telecom PLC reported the following financial performance: In summary, Sri Lanka Telecom PLC’s profitability has decreased in the quarter ended 31 March 2024 compared to the same quarter in the previous year, with lower operating profit and profit…
LB Finance PLC: Financial Performance for the year ended 31st March 2024
LB Finance PLC’s financial performance for the year ended 31st March 2024, as per the provided context, can be summarized as follows: Profitability: Percentage Change in Net Profit = [(9,713,917,000 – 8,554,543,000) / 8,554,543,000] x 100Percentage Change in Net Profit ≈ 13.56% This indicates that LB Finance PLC’s profitability has increased by approximately 13.56% from…
Janashakthi Insurance PLC: Financial performance 1Q 2024
The financial performance and profitability of Janashakthi Insurance PLC for the quarter ended 31st March 2024 can be assessed by examining key figures from the interim financial statements: The increase in Gross Written Premium and Profit for the Period suggests that Janashakthi Insurance PLC has experienced positive growth in its core operations. The rise in…
Access Engineering PLC: Financial Performance as at 31st March 2024
Analysis of the financial status and performance of Access Engineering PLC for the fiscal year ended 31st March 2024. The analysis is based on the interim financial statements provided and includes a review of key financial ratios. Financial Performance Summary: Key Financial Ratios: The financial performance of Access Engineering PLC for the year ended 31st…
Hatton National Bank PLC recorded a Profit Before Tax of Rs 9.8 Bn for 1Q2024
Hatton National Bank PLC (HNB) recorded a Profit Before Tax (PBT) of Rs 9.8 Bn during the first quarter of 2024 while Profit After Tax (PAT) amounted to Rs 6.2 Bn. At Group level, PBT and PAT were at Rs 11.2 Bn and Rs 7.4 Bn, respectively. The substantial monetary policy loosening adopted by the…
Amana Bank surges ahead with aggressive outlook for 2024
Amana Bank continued its robust performance trend as it completed a successful first quarter recording a notable 73% YoY increase in Profit Before Tax to reach LKR 734.5 million compared to LKR 423.5 million booked a year back while Profit After Tax surged by 91% YoY to post LKR 422.2 million as against LKR 220.7…
Strong strategic alignment enables resilient performance for NDB in 1Q2024
National Development Bank PLC, Sri Lanka’s fourth largest listed bank commenced the financial year on a positive note, with resilient performance for the first quarter of the year ended 31 March 2024. NDB’s Director/ Chief Executive Officer Mr. Kelum Edirisinghe commented that the Bank continued to face challenges on relatively low credit demand due to…
ComBank begins FY2024 with impressive growth
The Commercial Bank of Ceylon Group has ended the first quarter of 2024 with a loan book of Rs 1.316 trillion, continuing the Bank’s focus on lending in a period where the appreciation of the Rupee negatively impacted the value of the loan book and resulted in a contraction of the balance sheet. The Group reported…
Sampath Bank PLC: Financial performance for 3 months ended 31st March 2024
Financial Performance Sampath Bank posted a profit before tax (PBT) of Rs 6.2 Bn and a profit after tax (PAT) of Rs 3.4 Bn for the three months ended 31st March 2024, notwithstanding an exchange loss of Rs 4.3 Bn due to the appreciation of LKR against USD by Rs 23.70. These figures signify growth…
Harischandra Mills PLC: Financial Performance as at 31st March 2024
Based on the latest available interim financial statements for Harischandra Mills PLC for the year ended 31 March 2024, the company has experienced some variances in its financial performance compared to the previous year. Here are some key points from the data provided: These figures are provisional and subject to audit, as noted in the…
Horana Plantations PLC: Financial Performance as at 31st March 2024
Based on the interim financial statements for Horana Plantations PLC for the twelve months ended 31st March 2024, the following financial performance data can be extracted: The financial performance indicates a reduction in revenue and comprehensive income, along with a decrease in EPS. However, the company has declared a dividend, which could be a positive…
Softlogic Life Insurance PLC: Latest Financial Performance 1Q2024 and Future Outlook
The latest financial performance of Softlogic Life Insurance PLC, as per the provided context, can be summarized as follows: Key Ratios (FY2023) The annual report of Softlogic Life Insurance PLC for the year 2023 provides several key ratios that can be used to analyze the company’s financial performance and stability. Here’s a breakdown of some…
Kelani Valley Plantations PLC: Financial Performance as at 31st March 2024
The financial performance of Kelani Valley Plantations PLC as at 31st March 2024 can be analyzed by reviewing the unaudited and audited financial statements provided in the interim reports. Here’s a summary based on the provided documents: Revenue: Cost of Sales: Gross Profit: Other Income: Total Equity and Liabilities: Earnings Per Share (EPS) Earnings Per…
Cargills Bank posts Profit before Tax Rs. 109 Million for the quarter ended 31 March 2024
Financial Highlights There was moderate growth in our Deposit and Loan portfolios amidst stiff competition from our peers. The Bank continued support to its customers to help them meet challenges they faced.Continuous downward revisions of lending rates, with lagged repricing of deposits, eroded net interest margins and exerted considerable pressure on the Bank’s bottom line. This…
Singer Sri Lanka PLC: Latest Financial Performance as at 31st March 2024
Based on the interim financial statements for the twelve months ended 31st March 2024, Singer (Sri Lanka) PLC has shown a significant improvement in its financial performance compared to the previous year. Here are some key highlights and their future outlook: Revenue Growth: Profitability: Earnings Per Share (EPS): Share Price Movement: Segment Performance: Future Outlook:Given…
Sri Lanka: Latest Economic Outlook and Future Challenges
The economic outlook of Sri Lanka has been challenging, as evidenced by the data and reports available up to May 2024. The country has faced severe economic downturns, with a sharp contraction of about 8.0% in 2022, which was the largest economic contraction on record for Sri Lanka. This was followed by a contraction of…
Singer Finance PLC: Financial Performance as at 31st March 2024
Based on the provided context from the interim financial statements of Singer Finance (Lanka) PLC for the twelve months ended 31st March 2024, the financial performance can be summarized as follows: Revenue and Income: Expenses: Profitability: Assets: Liabilities and Equity: Segment Reporting: Shareholder Information: Debentures: Overall, Singer Finance (Lanka) PLC’s financial performance for the twelve…
Alumex PLC: Financial Performance as at 31st March 2024
The financial performance of Alumex PLC as of March 2024, based on the unaudited interim financial statements, can be summarized as follows: Revenue: Profitability: Share Performance: Financial Ratios: Other Financial Highlights: This summary indicates that Alumex PLC has experienced a positive turnaround in its financial performance during the twelve months ended 31st March 2024, with…