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Galadari Hotels (Lanka) PLC, where the Central Bank managed Employee’ Provident Fund is the second largest shareholder with a 13 percent stake, or 23.7 million shares, has reported a massive loss amounting to Rs. 986.1 million for the six months ended June 30, 2012, this is compared to a profit of Rs. 25.2 million a year ago, interim results filed with the Colombo Stock Exchange showed.
The loss from operating activities amounted to Rs. 911.3 million, from a Rs. 79.7 million gain the previous year.
The hotel suffered a huge exchange gain of Rs. 1.06 billion during the six months period, compared to a Rs. 75 million exchange gain a year earlier.
Revenue grew to Rs. 813.9 million from Rs. 621.4 million a year ago.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=58248
The loss from operating activities amounted to Rs. 911.3 million, from a Rs. 79.7 million gain the previous year.
The hotel suffered a huge exchange gain of Rs. 1.06 billion during the six months period, compared to a Rs. 75 million exchange gain a year earlier.
Revenue grew to Rs. 813.9 million from Rs. 621.4 million a year ago.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=58248