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Blue Chip quarterly results hit bourse

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By Hiran H.Senewiratne 

The CSE’s S and P SL20 was down by 27.78 pts with the recording of a 23 percent drop in Sampath Bank cumulative profit figures yesterday, stock market analysts said 

Further, top mobile phone company Dialog recorded  a 225 percent increase in profits in its  third quarter results but its cumulative profit increased by only  three percent for the last nine months. This was not reflected in both indices, especially S and P SL20, because most banking sector counters represent the S and P SL20 index. 

Therefore, banking sector counters witnessed a slight drop in their prices with the dropping of Sampath Bank profits by 53 percent, stock market analysts said. In this context, the All Share Price Index went down by 6.96 points and S and P SL20 declined by 27.78 points.

The turnover stood at Rs. 1.57 billion with two crossings. Those crossings came from CTC which crossed 50000 shares to the tune of Rs. 48 million; its share price traded at Rs. 960 and Aitken Spence 450,000 shares crossed for Rs. 20.3 million; its shares trading at Rs. 45.

Top five contributors in the retail market trading were, Expolanka Rs. 283 million (11 million shares traded), Dipped Products Rs. 155 million (484,000 shares traded), Dialog Rs. 95 million (7.9 million shares traded), Sampath Bank Rs. 72.8 million (580,000 shares traded), and Aitken Spence Rs. 62.2 million (1.4 million shares traded). During the day 90.5 million share volumes changed hands in 18277 transactions. 

It said high net worth and institutional investor participation was noted in Dipped Products and JKH. Mixed interest was observed in Expolanka Holdings, Hayleys and Haycarb, while retail interest was noted in Access Engineering, R.I.L. Property and Lanka Walltiles. 

The stock market showed resilience yesterday with profit taking and turnover crossing the now standard at Rs. 1.5 billion average.  ASPI edged up as a result of price gains in counters, such as, JKH, Dialog Axiata and Distilleries.

Sri Lanka rupee was quoted flat at 184.55/65 to the US dollar in the spot market on Thursday while gilt yields were steadily ahead of the bond auction, dealers said. The rupee closed at 184.50/60 to the US dollar on Wednesday.



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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