FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» GLAS will be winner with Super Gain.
by Eranga87 Today at 2:56 am

» Must watch this video - unnecessary panic
by Jana Today at 1:03 am

» DIPD/HAYC/HAYL
by Love Boy Today at 12:40 am

» LOLC HOLDINGS PLC (LOLC.N0000)
by learningthemarket Today at 12:03 am

» Daily Foreign Transactions
by Mr. X Yesterday at 11:28 pm

» Fall seven times, stand up eight.What happened, has happened. Free your mind from it. Stock market for beginners
by Asoka Samarakone Yesterday at 9:21 pm

» RICHARD PIERIS EXPORTS PLC (REXP.N0000)
by කොටස් වෙළඳපොළ2020 Yesterday at 9:06 pm

» Leading brokers causing market downturn
by Jayashantha Yesterday at 8:52 pm

» Unscripted daily drama.Traders are uncertain whether to buy or sell. Stock market for beginners
by Jayashantha Yesterday at 8:40 pm

» SRI LANKA TELECOM PLC (SLTL.N0000)
by KingKong Yesterday at 7:35 pm

» ACCESS ENGINEERING ( AEL.N )
by subash81 Yesterday at 7:01 pm

» OVERSEAS REALTY (CEYLON) PLC (OSEA.N000)
by Captain Yesterday at 5:49 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by judecroos Yesterday at 2:40 pm

» LITE.R - STOP THE MADNESS
by Big Bull Yesterday at 12:59 pm

» RHL - CSE's most undervalued stock?
by Promoney Yesterday at 12:09 pm

» Sunshine holding future potential
by keen Yesterday at 10:37 am

» February the month of purification for the Colombo Stock Market
by samaritan Yesterday at 9:47 am

» 5% down...
by Jana Yesterday at 1:52 am

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by Jana Yesterday at 1:05 am

» The SIGNS of SRI LANKAN ECONOMIC RECOVERY
by dayandacool Tue Feb 23, 2021 9:39 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Chemanex suffers worst year in over a decade

Chemanex suffers worst year in over a decade

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator
* Other income of Rs. 92 m salvages company from disastrous result
* Exports inflicted with Rs. 66.7 m loss
* Final dividend of 75 cents proposed on top of interim of an equal amount paid

Chemanex Plc in 2011/11 had suffered its worst performance in over a decade, posting an after-tax Group loss of Rs. 10.6 million, whilst net profit attributable to equity holders dropped by 84% to Rs. 6 million.

Group revenue was also down by 7% to Rs. 931 million, whilst gross profit dipped by 17% to Rs. 155 million. Pre-tax profit plunged by 84% to Rs. 10.6 million. The results would have been worse if not for Rs. 92 million in other income, up by 42% over the 2010/11 financial year.

Other income came from Rs. 38.6 million as net foreign exchange gain and interest income of Rs. 31.6 million, though the latter was marginally down from 33.5 million in FY11. Income from quoted investments chipped in with Rs. 7.4 million up from Rs. 513,000 whilst that from unquoted was down to Rs. 6 million from Rs. 12 million. Chemanex also gained Rs. 4.8 million from disposal of property, plant and equipment, up from Rs. 2.3 million. At company level, after-tax profit dipped by 59% to Rs. 33 million from Rs. 81 million in FY11.

Chemanex’s liners business has resulted in a loss of Rs. 31.3 million in comparison to a profit of Rs. 10.6 million in FY11. Core business chemicals had suffered a pre-tax loss of Rs. 13 million, as against a profit of Rs. 8.5 million last year.

The paint business, the second biggest, had improved a profit of Rs. 9.45 million, up from Rs. 5.4 million in the previous year. Consumer business too has brought in Rs. 6.7 million, a sharp rise from Rs. 1.6 million in the previous year.

Chemanex also saw export business suffering a loss of Rs. 66.7 million, as opposed to a profit of Rs. 10 million in FY11. Export turnover dropped to Rs. 266 million, from Rs. 458 million.

On the cost side, all items have increased as well. Administrative expenses rose to Rs. 139 million from Rs. 123.5 million and distribution expenses rose to Rs. 48 million from Rs. 39.3 million. Other operating expenses rose sharply from Rs. 13.2 million to Rs. 27.5 million, whilst financing expenses doubled to Rs. 21.6 million.

Despite the worst performance, the Chemanex Board last week recommended a final dividend of 75 cents, same as the interim dividend paid in February this year. The final dividend cost will be Rs. 11.8 million, bringing the total to Rs. 23.6 million, down from Rs. 31.5 million (Rs. 2 per share dividend paid last year).

Revenue reserves were at Rs. 676 million at Company level and Rs. 785.6 million at Group level, whilst total equity amounted to Rs. 1.12 billion and Rs. 1.36 billion respectively.

Net asset per share had marginally improved to Rs. 71.52 from Rs. 71.18 in the previous year, whilst at Group level it had dipped to Rs. 78.67 from Rs. 81.12

CIC Holdings Plc owns a 50.4% stake in Chemanex whilst CIC Trustees for Charitable and Education Trust Fund holds 10.3%. Connected parties control a 64% stake in Chemanex and public holding is 36%.
http://www.ft.lk/2012/05/21/chemanex-suffers-worst-year-in-over-a-decade/

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum