The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» 8000 Post Club | Celebration of a Great Milestone කිත්සිරි ද සිල්වා
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 2:58 pm by nuwanmja

» JKH - 155/00 Breakout is pending
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 10:19 am by nisashi

» Tokyo as at 21.08.2019 Morning
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 10:07 am by nisashi

» Thread for News on CSE and SL Economy
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 5:55 am by The Invisible

» අනං මනං! #/+?.<>
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyYesterday at 8:18 pm by ruwan326

» Dividend Announcement
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyYesterday at 6:04 pm by Ethical Trader

» Browns Investments update
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyYesterday at 1:46 pm by The Invisible

» What Would You Do?
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 19, 2019 1:02 pm by කිත්සිරි ද සිල්වා

» Back of the Legends
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 19, 2019 10:13 am by Topcat

» Thread for News on Local and Foreign Politics
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 19, 2019 6:32 am by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Aug 18, 2019 10:33 pm by lanka

» Melstacorp (MELS)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Aug 18, 2019 8:33 pm by The Invisible

» Cargills (CARG)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Aug 18, 2019 8:26 pm by The Invisible

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Aug 18, 2019 8:18 pm by The Invisible

» SHL.N0000 (Softlogic Holdings PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Aug 18, 2019 8:14 pm by The Invisible

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 17, 2019 12:44 pm by nuwanmja

» Hayleys MGT
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Aug 16, 2019 8:55 pm by ruwan326

» CFVF - First Capital
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Aug 16, 2019 9:58 am by CK

» JINS.N0000 ( Janashakthi Insurance PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 14, 2019 4:57 pm by The Invisible

» Ceylinco Insurance CINS
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 14, 2019 9:18 am by The Invisible

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 14, 2019 9:15 am by The Invisible

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 14, 2019 9:11 am by The Invisible

» Tourism Sector
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 14, 2019 4:55 am by NIRMALSG

» LIOC.N0000 (Lanka IOC PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 12, 2019 2:55 pm by xmart

» HAYL.N0000 Hayleys PLC
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 12, 2019 1:43 pm by CK

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 12, 2019 1:33 pm by The Invisible

» Grain Elevators
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 12, 2019 1:31 pm by The Invisible

» Sri Lanka sets US$3.5bn tea export target for 2030
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Aug 12, 2019 1:27 pm by The Invisible

» Tea: July 2019 national average shows gains month on month
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Aug 11, 2019 9:19 pm by Topcat

» OSEA .N
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 10, 2019 6:40 pm by The Invisible

» Sri Lanka mulls reforms to punish 'errant' plantation companies
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 10, 2019 6:33 pm by The Invisible

» JKH.N0000
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 10, 2019 11:38 am by The Invisible

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 10, 2019 10:42 am by The Invisible

» Nestle NEST
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 10, 2019 10:28 am by The Invisible

» Ceylon Tobacco CTC
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Aug 10, 2019 10:26 am by The Invisible

» Volkswagen කතාවේ ඇත්ත තත්ත්වය මෙහෙමයි.
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Aug 09, 2019 5:37 pm by කිත්සිරි ද සිල්වා

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Aug 09, 2019 5:07 pm by Ethical Trader

» VFIN - where the journey leads it?
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Aug 09, 2019 9:21 am by ruwan326

» UAL.N0000 ( UNION ASSURANCE PLC )
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Aug 09, 2019 9:20 am by ruwan326

» SPEN.N0000
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 10:20 pm by The Invisible

» Lanka Tiles
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 10:15 pm by The Invisible

» Expolanka
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 8:28 pm by ruwan326

» Tile - Snapshot
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 11:37 am by mymoney

» DPL.N0000 (Dankotuwa Porcelain PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 11:31 am by mymoney

» නිරුවත
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 9:36 am by කිත්සිරි ද සිල්වා

» HAYC - Haycarb
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Aug 08, 2019 7:32 am by Beta

» WATA - Watawala
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 07, 2019 12:03 pm by lanka

» Chemanex
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Aug 07, 2019 6:40 am by The Invisible

» East West properties
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyTue Aug 06, 2019 8:17 am by slstock

» CSE Market Wrap - 02.08.2019
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyTue Aug 06, 2019 6:59 am by pjrngroup

August 2019
SunMonTueWedThuFriSat
    123
45678910
11121314151617
18192021222324
25262728293031

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Sri Lanka economic slowdown trims company profits, bank earnings grow

Go down

Sri Lanka economic slowdown trims company profits, bank earnings grow Empty Sri Lanka economic slowdown trims company profits, bank earnings grow

Post by The Invisible on Thu Dec 06, 2018 1:32 pm

ECONOMYNEXT – Sri Lankan listed company profits fell 10 percent in the September 2018 quarter from a year ago on lower consumer spending as the economy lost steam but banks and insurers maintained growth momentum, a brokerage said.

Despite the drop in overall earnings there was continued growth in banks and insurance sectors, First Capital Holdings said in an equities research report on the performance of 267 listed firms.

September 2018 quarter earnings dipped by 10 percent to 54.3 billion rupees from a year ago.

The dip was “primarily owing to sluggish performance in Food, Beverage and Tobacco, Telecommunication and Materials sectors which outweighed the positive momentum experienced by Banks and Insurance (+217%YoY) sectors,” the report said.

Food, Beverage and Tobacco sector profits fell 31 percent in the September 2018 qurater from the previous year, Telecommunication sector profits fell 36 percent and that of the Materials sector slumped 68 percent.

Profits of banks grew 14 percent and that of insurance firms shot up 217 percent during the period, First Capital Holdings said.

“Lackluster performance in Food, Beverage and Tobacco, Telecommunication and Materials sectors was mainly owing to lower consumer spending stemming from subdued economic growth,” the report said.

The profits dip in Carsons and Bukit Dahar was due to a loss of 943 million rupees as a result of a change in fair value of financial assets, deferred tax of 442 million rupees and a 821 million rupee foreign exchange loss.

The decline in volumes as a result of a new sugar tax saw earnings at Ceylon Cold Stores fall 31 percent.

“Amidst the heavy depreciation in the rupee, Dialog Axiata recorded a forex loss which led to a 54 percent year-on-year decline in earnings leading to a 36 percent YoY dip in Telecommunication sector earnings,” the report said.

The 68 percent dip YoY in the Material sector earnings was attributed to the 90 percent slump YoY in earnings of Tokyo Cement due to the slowdown in economic activities, First Capital said.

But they said the banking and insurance sector earnings continued to grow.

Banking sector earnings posted a 14 percent YoY growth to 17.7 billion rupees while continuing to be the largest contributor to overall earnings.

Commercial Bank, Hatton National Bank and Sampath Bank, being the largest banks in terms of the asset base, contributed 72 percent to total banking sector earnings.

“Improved earnings during the quarter was a result of higher interest rates that prevailed in the market, thereby improving margins and spreads which negated the effect of an increase in impairment provisioning under IFRS 9,” the report said.

The two-fold growth in insurance sector earnings was owing to phenomenal growth in earnings of Union Assurance Ltd. (1.6 billion rupees) and Softlogic Life Insurance (2.3 billion) resulting from the reversal in deferred tax assets in life insurance business.
(COLOMBO, December 6, 2018)
The Invisible
The Invisible

Posts : 1173
Join date : 2016-11-28
Age : 39

Back to top Go down

Sri Lanka economic slowdown trims company profits, bank earnings grow Empty Re: Sri Lanka economic slowdown trims company profits, bank earnings grow

Post by nihal123 on Thu Dec 06, 2018 3:04 pm

Thanks Invi
nihal123
nihal123
Top contributor
Top contributor

Posts : 5677
Join date : 2014-02-24
Age : 53
Location : Waga

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum