Lanka Tiles

[The Invisible]

Lanka Tiles June quarter net profit down 61-pct

ECONOMYNEXT - Sri Lanka's Lanka Tiles group net profits fell 61 percent to 33 million rupees in the June 2019 quarter from a year ago as costs rose sharply although tax expenses fell.

The June quarter earnings per share were 63 cents. Lanka Tiles shares closed at 71.90 rupees, down 2.10 or 2.84 percent Thursday.

Interim financial results filed with the stock exchange showed group sales rose 12 percent to 1.6 billion rupees in the period with exports down and cost of sales rising by 26 percent.

Gross profit contracted 13 percent to 382 million rupees.

Lanka Tiles group, which benefits from high import tariffs on tiles, reported 19 million rupees in profits from associate firms while finance costs rose to 56 million rupees although tax expenses fell 87 percent to 5.4 million rupees.
(COLOMBO, 08 August 2019

[The Invisible]

Heavy trading is seen on the counter yesterday & today. Speculation is that a big boy is in the collection side Over a million traded yesterday and over 2mn today. What kind of movement can we see next week?

Performance wise Q2 was a great improvement from that of Q1 and NAV stands @ 141 so still the stock is trading at a PBV of 0.57.

[soileconomy]

Apparently there was a big seller and that is it could not pass Rs 78 even though over 3million shares traded.
If that big gun was not there ,share would have passed Rs95 easily.(technically)
Normally their dividend pattern is also very attractive.
Let's see the coming days....interesting...

[The Invisible]

I think the buyer was searching for quantities below 80/- if I am not mistaken and willing sellers have sent all their quantities. This is very similar to RCL movement at 70-80 range which is now close to 100/-.

[soileconomy]

I think the buyer was searching for quantities below 80/- if I am not mistaken and willing sellers have sent all their quantities. This is very similar to RCL movement at 70-80 range which is now close to 100/-.

(
Yes.very parallel.next couple of days will tell the direction

[The Invisible]

Massive price weakness due to the absence of high volume and market risks. RSI reached to a low level which last seen on March 2019. I am expecting a quick turn around soon.

[The Invisible]

Sri Lanka’s Lanka Tiles expect 20-pct revenue drop in 2020

ECONOMYNEXT – Sri Lanka’s Lanka Tiles Plc, said it expected a 20 percent revenue drop in 2020, and profits as the country recovers from a Coroanvirus crisis.

“However the company is confident that it has the necessary resources and business capability to withstand the negative effects and uncertainty this pandemic has created,” Lanka Tiles said in a stock exchange filing.

The Board together with the Management is focused on minimizing the financial impact and ensuring long term business continuity by critically analyzing operations in order to reduce costs and increase revenue.”

Lanka Tiles has delayed submitting accounts due to Covid-19 curfews but said it was working with auditors to complete the statements.

In the year to March the firm said revenues dropped 4 percent from a year earlier, though overall performance was better than the previous year.

Sri Lanka imposed curfews to stop the spread of Coronavirus from around the last week of March. (SB-Colombo/June01/2020)