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

Display results as :
 


Rechercher Advanced Search

Latest topics
» "පියසේනට දැං සනීපයි..."
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 9:22 pm by serene

» Thread for News on CSE and SL Economy
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 7:18 pm by NIRMALSG

» Dividend Announcement
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 9:56 am by Rana

» විද්‍යාව මිස්ගේ පාඩම...
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyToday at 7:27 am by sanjulanka

» Trading Journal
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyYesterday at 11:50 pm by pathfinder

» වචන නම් අපේ ඒත් තනුව ?????????
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyYesterday at 8:08 pm by Rana

» Access Engineering AEL Technical Analysis
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jul 15, 2019 3:07 pm by NIRMALSG

» Tourism sector
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Jul 14, 2019 8:57 am by NIRMALSG

» Cricket, meet Capitalism
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jul 12, 2019 1:24 pm by කිත්සිරි ද සිල්වා

» LFIN - LB Finance
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jul 11, 2019 11:27 am by Ethical Trader

» අපි නොදන්න චෙස් කිව්වලු !
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyTue Jul 09, 2019 6:25 pm by serene

» Stock Market to stay Bullish
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jul 08, 2019 7:51 am by කිත්සිරි ද සිල්වා

» Is an emoji a word or a gesture?
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jul 08, 2019 7:46 am by කිත්සිරි ද සිල්වා

»  Rajgama Heroes !
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jul 08, 2019 7:39 am by කිත්සිරි ද සිල්වා

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Jul 07, 2019 12:25 pm by dhanurrox

» Checkmate, meatbags !
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Jul 07, 2019 7:20 am by spw19721

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySat Jul 06, 2019 8:13 am by කිත්සිරි ද සිල්වා

» සංචාරක පැමිණීම ක්‍රමයෙන් යහපත් වන ලකුණු
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jul 05, 2019 6:11 pm by serene

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jul 04, 2019 8:55 am by serene

» Easter Sunday Attack and Sri Lanka
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jul 04, 2019 8:46 am by කිත්සිරි ද සිල්වා

» අනං මනං! #/+?.<>
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Jul 03, 2019 10:07 pm by ruwan326

» First capital holdings
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Jul 03, 2019 1:37 pm by serene

» What to Analyse
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jul 01, 2019 11:33 am by serene

» අනිසි ලෙස කොටස් මිල හැසිර වූ ආයෝජකයින් දෙදෙනෙකුට සුරැකුම්පත් කොමිසමෙන් නඩු
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jun 28, 2019 2:11 pm by Ethical Trader

» අද වෙන්දේසියේ දී බිල්පත් පොළිය පහළට.
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jun 28, 2019 7:46 am by serene

» AAIC.N0000
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jun 28, 2019 7:33 am by serene

» SERV - The Kingsbury
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 27, 2019 8:27 pm by ruwan326

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Jun 26, 2019 2:22 pm by nuwanmja

» Life After Google
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyTue Jun 25, 2019 5:28 pm by කිත්සිරි ද සිල්වා

» S&P ශ්‍රී ලංකා 20 දර්ශකයේ වෙනසක්. CTC, NTB, රිචඩ් පීරිස් සහ ටෝක්යෝ සිමෙන්ති ඉවතට
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyTue Jun 25, 2019 6:37 am by nihal123

» Future of Tea Industry
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jun 24, 2019 6:54 pm by hammurabi

» Cricket !
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jun 24, 2019 2:22 pm by කිත්සිරි ද සිල්වා

» DIPD.N0000 (Dipped Products)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jun 24, 2019 11:40 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Jun 23, 2019 9:14 pm by hammurabi

» මිල සූත්‍රය වැරදුණාද, වැරැද්දුවාද?
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jun 21, 2019 5:25 pm by Ethical Trader

» Happy Father's Day !
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyMon Jun 17, 2019 8:58 pm by spw19721

» DPL.N0000 (Dankotuwa Porcelain PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Jun 16, 2019 7:12 am by NIRMALSG

» Re: Financial reports Q1-2019
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jun 14, 2019 8:57 pm by dhanurrox

» SEYB.N0000 ( SEYLAN BANK PLC )
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 8:11 pm by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 8:08 pm by ruwan326

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 8:06 pm by ruwan326

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 7:58 pm by ruwan326

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 7:57 pm by ruwan326

» HDFC.N0000 (HOUSING DEVELOPMENT FINANCE CORPORATION BANK OF SRI LANKA)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 7:48 pm by ruwan326

» DFCC.N0000 ( DFCC BANK PLC )
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 7:45 pm by ruwan326

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyThu Jun 13, 2019 7:43 pm by ruwan326

» Should CSE be like this? Whose FAULT is it?
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyWed Jun 12, 2019 5:21 pm by Yin-Yang

» CCS.N0000 ( Ceylon Cold Stores)
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyTue Jun 11, 2019 9:15 pm by ruwan326

» MCPL.N0000
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptySun Jun 09, 2019 12:15 pm by ruwan326

» LOFC Initiating Coverage - STRONG BUY - 29 03 17 - FC Research
Sri Lanka economic slowdown trims company profits, bank earnings grow EmptyFri Jun 07, 2019 5:42 am by stockback

July 2019
SunMonTueWedThuFriSat
 123456
78910111213
14151617181920
21222324252627
28293031   

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 : 883
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 : 5597
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