Connect with us

Business

Profit-takings arrest share market uptick, triggering steep decline

Published

on

By Hiran H. Senewiraratne

The stock market yesterday witnessed a steep decline due to profit- takings by local and foreign investors after recording an upward trend in the market in the last few weeks, stock market analysts said.Amid those developments both indices moved downwards. The All Share Price Index went up by 161.3 points while S and P SL20 declined by 6.4 points. Turnover stood at Rs 4.1 billion with four crossings.

Those crossings were reported in JKH, which crossed 9.5 million shares crossed to the tune of Rs 228 million; its shares traded at Rs 94, Lion Brewery 80000 shares crossed for Rs 104 million; its shares traded at Rs 1210, Melstacope 250,000 shares crossed for Rs 31.25 million; its shares sold at Rs 125, Seylan Bank 500,000 shares crossed for Rs 29.5 million; its shares traded at Rs 59.

In the retail market top six companies that mainly contributed to the turnover were; JKH Rs 427 million (17.8 million shares traded), Browns Investment Rs 263 million (34.1 million shares traded), LB Finance Rs 233 million (2.5 million shares traded), HNB Rs 222 million (718,000 shares traded), RIL Properties Rs 160 million (10.6 million shares traded) and Digital Mobile Solutions Rs 129 million (1.8 million shares traded). During the day 178 million share volumes changed hands in 24944 transactions.

It is said that the manufacturing sector counter was the biggest contributor to the turnover; especially with the JKH crossing and retail transactions. Service and banking sector counters were also slightly active in the market.

Yesterday the rupee was quoted at Rs 295.60/90 to the US dollar, weaker from the previous day’s close of Rs 295.05/15 to the US dollar in the spot market, dealers said, while bond yields fell.

A bond maturing on 15.12.2026 was quoted at 9.40/50 percent, down from 9.40/45 percent. A bond maturing on 15.10.2027 was quoted at 9.75/85 unchanged from 9.75/85 percent. A bond maturing on 15.02.2028 was quoted at 10.10/15 percent, down from 10.10/18 percent.

A bond maturing on 15.10.2028 was quoted at 10.40/45, down from 10.45/52 percent. A bond maturing on 01.05.2028 was quoted at 10.25/30 down from 10.30/33 percent. A bond maturing on 15.09.2029 was quoted at 10.77/83 percent, steady from 10.75/82 percent. A bond maturing on 15.05.2030 was quoted at 11.00/05 percent, down from 11.00/15 percent.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

AIA delivers strong first half results in 2026; double-digit growth across key financial metrics

Published

on

The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the six months ended 30 June 2026. Growth rates are shown on a constant exchange rate basis unless otherwise stated:

New business performance and embedded value

Value of new business (VONB) of US$3,212 million, up 10 per cent overall and 14 per cent excluding Thailand(1)

Record high annualised operating ROEV of 18.0 per cent, up from 15.8 per cent in full year 2025

EV Equity of US$83.4 billion, up 6 per cent per share over the first half on an actual exchange rate basis

IFRS earnings

Operating profit after tax (OPAT) of US$4,163 million, up 13 per cent per share

AIA now expects to exceed OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026(2)

Record high annualised operating ROE of 17.5 per cent, up from 15.5 per cent in full year 2025

Cash generation and capital returns

Underlying free surplus generation (UFSG) of US$3,935 million, increased by 10 per cent per share

Net free surplus generation (net FSG) of US$2,758 million, up 12 per cent per share

US$3.6 billion returned to shareholders in the first half through dividend and share buy-back

Interim dividend increased by 10 per cent to 53.90 Hong Kong cents per share

Lee Yuan Siong, AIA’s Group Chief Executive and President, said:

“AIA has delivered another strong performance in the first half of 2026, with double-digit growth across our key financial metrics, while continuing to return substantial capital to shareholders. VONB reached a record high of US$3.2 billion with growth across all distribution channels, and all reportable segments excluding Thailand. The Group has achieved 17 per cent CAGR since the first half of 2023(3), demonstrating consistently strong demand for AIA’s professional advice and differentiated products.

“At the core of our unrivalled distribution platform is our market-leading Premier Agency. I am delighted that AIA has once again been ranked the number one Million Dollar Round Table (MDRT) multinational company globally. We have held this position for a record 12 consecutive years and we have more than double the number of MDRT members of our nearest competitor. In the first half of 2026, our Premier Agency achieved strong VONB growth of 11 per cent excluding Thailand(1). Our extensive network of strategic distribution partners further expands our market reach and generated an 18 per cent increase in VONB, supported by very strong performance in both the bancassurance and independent financial adviser (IFA) and broker channels.

“Strong new business, together with disciplined management of our in-force portfolio, has supported sustained growth in recurring earnings with OPAT per share up by 13 per cent in the first half. As a result, we expect to exceed our 9 to 11 per cent OPAT per share CAGR target for 2023 to 2026(2). UFSG, the Group’s core measure of operating cash generation, increased by 10 per cent per share. After allowing for new business investment, net FSG increased by 12 per cent per share. In accordance with our prudent, sustainable and progressive dividend policy, the Board has declared a 10 per cent increase in the interim dividend to 53.90 Hong Kong cents per share. These achievements demonstrate that our financial strategy is working as intended.

“Asia remains the most compelling growth opportunity for life and health insurance. Powerful structural tailwinds across the region continue to create substantial demand for our professional advice and differentiated products and underpin the exceptional long-term prospects for AIA’s business. I am confident that AIA’s disciplined execution of our strategic priorities will continue to deliver long-term sustainable value for all our stakeholders.”

Continue Reading

Business

British Council Sri Lanka launches soft skills workshops to elevate learning and empower communication

Published

on

The British Council team answering questions on Corporate English Solutions from leading corporates about professional development skills courses

The British Council Sri Lanka has launched Corporate English Solutions (CES), tailored to the Sri Lankan corporate and education ecosystem, aimed at helping organisations strengthen workplace communication and professional development.

The launch event took place recently at the NH Collection, Colombo 3, gathering corporate partners, clients and education stakeholders throughout the country.

CES extends the British Council’s long-standing work in English language education and teacher training into a dedicated offering for the corporate sector. The launch introduced two new components to the British Council’s presence in Sri Lanka such as public workshops and teacher training programmes, open to learners and educators beyond the organisation’s existing corporate and academic partners. Guests at the event were shown a short video introducing Corporate English Solutions before the formal proceedings began.

Talal Meer, British Council Regional Business Development Director, South Asia, welcomed guests and introduced the British Council’s team in Sri Lanka. In his remarks, Meer set out the scope of the CES launch, covering the introduction of public workshops in Sri Lanka, the rollout of teacher training programmes, and an overview of the CES product portfolio. Meer’s role covers educational partnerships in the South Asia region, and his address framed the Sri Lanka launch within the British Council’s broader regional strategy.

Continue Reading

Business

Ogilvy Group tops award tally at ‘Dragons of Sri Lanka’ 2026

Published

on

Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies. Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.

Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.

Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.

Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”

Continue Reading

Trending