Sun, 14 Aug 2022 Today's Paper

Jetwing symphony net losses widen in 2Q

6 November 2019 08:07 am - 0     - {{hitsCtrl.values.hits}}

A A A

Jetwing Symphony PLC saw its net losses getting widened during the September quarter (2Q20) amid the deadly blow delivered by Easter Sunday attacks in April, as tourist arrivals to the island nation plunged.


The company reported a net loss of Rs.291.5 million for the period under review compared to a loss of Rs.236.9 million a year ago with the revenue coming down 18 percent year-on-year (YoY) to Rs.675.5 million.


The loss per share for the period widened to 58 cents from 47 cents.


The operating profit of the firm fell 52 percent YoY to Rs.115.2 million. 


The company owns and runs five luxury properties in Yala, Dambulla, Kaduruketha, Pottuvil and Colombo. Two other luxury resorts in Kandy and Uppuveli are to be launched shortly. 
 Jetwing Symphony Chairman Hiran Cooray said the hotel Jetwing Kandy Gallery is on schedule, and the new property is expecting its first guests on January 
14, 2020.


Acknowledging the financial toll in the short term due to Easter attacks, Cooray doubted whether the country’s tourism industry could experience its regular flow of business in the current financial year.

“Many companies have reduced rates considering the impending drop in tourist arrivals, and this has resulted in a price war between hotels and travel agencies to win whatever business at hand. “Focusing on the short-term now seems futile, and it is certainly more fruitful to look at the long-term future of your company and the country at large,” he said. Jetwing Symphony posted its first profits in the final quarter of FY18/19 since it became a publicly listed company on the Colombo Stock Exchange. The Cooray family owned Jetwing Symphony Limited went public in December 2017 offering 50.2 million shares or 10 percent stake in the company for a consideration of Rs.753.3 million. Employees’ Provident Fund holds 7.06 percent stake in the company being the fourth largest shareholder. 

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Tamil Parties Must Urge Full Implementation of 13A

Last week’s article was about the guerilla war fought by the Janatha Vimukt

Govt. re-recommends COVID-19 regulations: Medics, legal experts warn of vaccine expiry dates and injuries

The public has once again been advised to wear masks to prevent the spread of

8-year-old grave sexual abuse victim gets justice after 18 years

In Palawela Udaniriella, an 8-year-old girl became the victim of Grave Sexual

Covid makes a comeback!

These questions have been buzzing in our heads over the past few weeks as hea