Dipped Products Records Turnover of Rs.7.8Bn

The Dipped Products Group posted Rs.7.8 billion turnover and Rs. 221 million Profit before Tax (PBT) for the first quarter ended 30th June 2019. The Hand Protection segment posted a growth of 8% in turnover amounting to Rs. 4.4 billion and contributed Rs. 219 million to Group...
Posted On 08 Aug 2019
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Hayleys revenue up 34% YoY to Rs 219 bn in FY 18/19.

The iconic Sri Lankan multinational, Hayleys PLC, recorded outstanding growth in revenue and operating profits in the financial year ended 31st March 2019 (FY18/19). The Group revenue expanded by 34% YoY to Rs. 219 bn while operating profit before interest increased by 40% YOY to...
Posted On 25 May 2019

Global stocks gain as US eases Huawei restrictions

Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China’s Huawei. In Europe, the broader Euro STOXX 600 climbed 0.6%, extending gains earlier in the...
Posted On 24 May 2019

Pharma Chamber welcomes drug price revision linked to rupee devaluation and calls for fair long-term pricing mechanism

Price increase allows SLCPI to provide retailers with minimum mark-up of 15% on price-controlled molecules, 17% on non-controlled molecules The Sri Lanka Chamber of Pharmaceutical Industry has welcomed the move by the Government, in consultation with the National Medicines...
Posted On 22 May 2019
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Taking Sri Lankan SMEs global is not just possible, it is inevitable

Sri Lanka’s economy is not growing as fast as it potential would suggest. The final data on the country’s economic performance has not yet been collated, all forecasts point to a GDP growth rate of approximately 3.6% in 2018. While this is a definite improvement over the 3.1%...
Posted On 21 May 2019

Market closure – April 22, 2019

The Colombo Stock Exchange (CSE), in consultation with the Securities & Exchange Commission of Sri Lanka (SEC), announces that the CSE will not open for trading at the regular time on Monday April 22, 2019. A further communication will follow, with regard to the resumption of...
Posted On 24 Apr 2019
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ABACUS TEA UNVEILS STAPLE-FREE TECHNOLOGY FOR EXISTING TEA BAG MACHINES

•OVER 1000 CONSTANTA MACHINES TO GET NEW LEASE OF LIFE.   •STAPLE PINS, RECOGNIZED AS POTENTIAL HEALTH HAZARD, NOW AVOIDED IN MOST COUNTRIES.    •INVESTMENT ON NEW UNIT CAN BE RECOVERED IN THREE YEARS FROM SAVINGS ON REMOVING STAPLE AND BENEFIT RECEIVED ON PACKING PRICE OF...
Posted On 18 Apr 2019
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Resilient Teejay posts 5th successive quarter of profit growth

Reports 9-month net profit of Rs 1.26 billion on sales of Rs 23.0 billion Teejay Lanka PLC has achieved its fifth consecutive quarter of top and bottom line growth in the third quarter of 2018-19, demonstrating its resilience during a period of higher raw material and utility...
Posted On 11 Feb 2019
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Huawei CEO and Founder expects Revenue to touch US $ 125 Bn in 2019 Says company intends to spend US $ 100 Bn for R&D in total for next 5 years

Ren Zhengfei, CEO and Founder of Huawei, recently said that 2019 could be a difficult year for Huawei, and however the company, is targeting US $ 125 billion in revenue for the whole year. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one of the rotating...
Posted On 17 Jan 2019
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Fortinet Serves as a Founding Partner of World Economic Forum’s Centre for Cybersecurity

As first cybersecurity founding partner of the Centre for Cybersecurity, partnership demonstrates Fortinet’s continued commitment to innovation and collaboration to combat global cybercrime   Fortinet, a global leader in broad, integrated and automated cyber security solutions,...
Posted On 08 Jan 2019
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Huawei’s Ken Hu Expresses Confidence in Business and Addresses Challenges

Huawei Rotating Chairman Ken Hu held a press conference with leading global media at the company’s new campus in Dongguan recently. The journalists visited R&D labs showcasing materials and thermal management technologies developed for 5G equipment, as well as an...
Posted On 28 Dec 2018

Constituent Changes to the S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 year-end index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 24 December...
Posted On 23 Dec 2018