HNB Assurance
HNB Assurance PLC has recorded remarkable growth rates of 275% and 371% in respect of Profit before Tax and Profit after Tax respectively for the six months ended 30th June 2012. Accordingly, it has reported a Profit before Tax of Rs 109.5m and a Profit after Tax of Rs. 85 m as per the interim financial statement released to the CSE.
AHUN steady
Profit after tax of Aitken Spence Hotel Holdings (AHUN) has improved by 119% to Rs. 285.4m 1QFY13. Revenue grew by 29% YoY to LKR 2,234.9m in 1QFY13. AHUN has maintained its net finance cost at a lower level and the associates also have positively contributed to the company during the quarter.
CIC loses
CIC Holdings (CIC) group has recorded the most difficult quarterly bottom line in recent times with a net loss of LKR17.3 mn in 1QFY13 Revenue remained stagnant to LKR 5.3bn in 1QFY13. Agriculture and Livestock sector the largest contributor to Group’s revenue (+66%) recorded a dip of 5% YoY to LKR3.5 bn in 1QFY13.
Dialog rebounds
Dialog Axiata’s bottom-line has grown c.25% YoY to c.LKR1.8 bn in 2Q2012 on a normalized basis. Albeit, the actual results are dampened by the +4% depreciation of the rupee against the USD which effectively gave rise to a translational loss in excess of LKR865 bn during the quarter.DIAL has showcased a 28% YoY growth in revenues to LKR14,121 mn.
Nestle grows
Despite a 21.7% YoY growth in Nestle Lanka Plc bottom line for 2Q2012, cumulative earnings for 2012 remained flat at LKR 1,245.99m with a 1.1% decline YoY. NEST’s turnover has grown by 13.5% YoY during 1H2011 as a result of the revenue growth registered by all its product categories led by pricing differences. GP margin for 2Q2012 stand at 33.1% (up 50 bps YoY).
PLC slows
People’s Leasing Company’s (PLC) net profit suffered a dip of 58% YoY to LKR710 mn (including the one – off reversal of LKR1.5 bn during 1QFY12). The earnings on a recurrent basis remained largely flat YoY with a slight 4% growth.
UML stable
United Motors Lanka Plc (UML) remained stable with a 136.6% YoY growth in 1QFY13 to LKR968.6 mn (up 40.7% QoQ). Gross profit margins improved by 558 bps YoY. A QoQ improvement in GP margins is also evident.
http://www.nation.lk/edition/biz-news/item/9179-corporate-brief.html