Fri, 19 Aug 2022 Today's Paper

Listed entities’ profit growth slows in December quarter

9 March 2015 05:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

The Colombo stock Exchange (CSE) listed entities saw their overall profits for the quarter ended December 31, 2014 (4Q14) slowing down to 9.3 percent year-on-year (yoy) to Rs.56 billion after growing 52.8 percent yoy in the third quarter, an independent research company said. 

According to the research arm of Capital Alliance Securities (Private) Limited, CAL Research, the largest contribution to this profits have come from the banks, finance and insurance sector with a 42 percent share. 

This is followed by diversified holdings with 16 percent contribution and beverage, food and tobacco with 12 percent contribution.  During the 4Q14, the largest individual contribution has come from the diversified conglomerate John Keells Holdings PLC with a profit share of 7.8 percent or Rs.4.3 billion. 

The second and the third largest individual contributors were Hatton National Bank PLC (6.6 percent) and Commercial Bank of Ceylon PLC (6.1 percent).  Meanwhile, the sectors which had the highest growth in earnings were footwear and textiles with 383 percent, information technology with 78 percent yoy and trading with 71 percent yoy. 

The services, plantation and power and energy saw their sector earnings declining by 50 percent, 44 percent and 30 percent yoy respectively. 

On the banks, finance and insurance sector CAL research said the earnings from the private sector commercial banks grew by 43 percent yoy in 4Q14 mainly due to the gains from their bond portfolios. 

“Net Interest Margin (NIM) of the banking sector remained flat at 5 percent. Financial companies and other financial institutions (NBFI) earnings grew 65 percent yoy amid NBFI sector NIM increasing 82bps to 10.6 percent,” CAL said.   Further, insurance sector earnings fell 9.9 percent yoy in 4Q14 despite the sector Gross Written Premiums increasing 11 percent yoy. 

Hotel and travel sector earnings declined 23 percent yoy to Rs.2 billion as the cost increases during the quarter saw the sector margins (earnings before interest and tax) contracting 170 basis points as most hotels were unable to pass on the increasing costs to customers. 

Healthcare sector earnings dipped 4 percent yoy Rs.683 million in the 4Q14 mainly due to the declines in earnings in Asiri Surgical, Nawaloka Hospitals and Lanka Hospitals Corporation, CAL said. 

Meanwhile, trailing 12-month market earnings grew 16.7 percent yoy to Rs.203 billion due to improved economic conditions in the latter part of the year. 
Earnings declined 13 percent yoy in 2013. 

The largest sector-wise contributions during 2014 came from banking, finance and insurance (35 percent), diversified holdings (17 percent) and beverage, food and tobacco (13 percent). 
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