Sri Lanka Distilleries Sept net up 44-pct
Nov 16, 2011 (LBO)
DCSL ranks No. 2 among ‘Business Today TOP TWENTY’
Distilleries toasts FY12 start with 1Q net profit up 50% to Rs. 1.2 b
August 17, 2011 (Daily FT)
Diversified blue chip Distilleries Company of Sri Lanka (DCSL) has toasted the new financial year with net profit up 50% to Rs. 1.24 billion in the first quarter whilst group revenue rose by 35% to Rs. 15. 3 billion.
JKSB’s first take on Distilleries FY2011 interim results
June 21, 2011 (Daily FT)
John Keells Stock Brokers (JKSB) has maintained that Distilleries Company is currently trading at a discount to the market multiple whilst the cash rich blue chip has the potential for further acquisitions. This view is contained in the JKSB’s earnings update on Distilleries which recently released interim results. Here are excerpts from JKSB review:
Sri Lanka Distilleries Corp. net boosted by capital gains
June 8, 2011 (LBO)
Distilleries Corporation of Sri Lanka, said profits rose to 5.0 billion rupees in the March quarter from breakeven levels a year earlier, helped by capital gains, with full year profits rising almost three fold to 8.1 billion rupees.
Sri Lanka Distilleries December net up
Feb 18, 2011 (LBO)
Distilleries Company of Sri Lanka group's December 2010 quarter net profits rose 45 percent to 1.2 billion rupees from a year ago with earnings per share rising to 4.06 rupees from 2.80 rupees, its accounts showed.
Sri Lanka Distilleries to sell fund management firm
Feb 10, 2011 (LBO)
Sri Lanka's Distilleries Group has struck a deal to sell a controlling stake in the island's pioneering unit trust management company, National Asset Management Ltd or NAMAL, a statement said.
Sri Lanka Distilleries gets Rs5.7bn for insurance takeover
Dec 31, 2010 (LBO)
The government has paid Distilleries Company of Sri Lanka 5.7 billion rupees spent by the firm to buy control of a state insurance firm in a privatisation deal reversed by a court order citing irregularities.
BellVantage appointed as Siemens Enterprise communications partner in Sri Lanka
Dec 19, 2010 (Sunday Times)
Siemens Enterprise Communication (Pvt) Ltd has appointed BellVantage (Pvt) Ltd as its authorized business partner in Sri Lanka to market the range of Siemens’s communication solutions. “We are pleased to appoint BellVantage (Pvt) Ltd as our new business partner in Sri Lanka.
Lanka Bell ties up with Cargills Food City to enhance its bill settlement and re-load network
Dec 06, 2010 (DM)
Sri Lanka's leading fixed line telecommunication operator Lanka Bell's bill settlement network has grown further with the company's latest partnership with the country's leading supermarket chain Cargills Food City.
Lanka Bell's post-paid subscribers will now be able to settle their bills at any one of Cargills 150 outlets island wide, while pre-paid subscribers will be able to enjoy the benefit of re-loading their accounts at any one of these outlets as well.
Lanka Bell earns coveted ISO 9001 quality certification
Nov 07, 2010 (Sunday Times)
Lanka Bell, the only wholly owned Sri Lankan telecommunications provider, and its three subsidiaries, BellVantage, Bell Solutions Ltd (BSL) and Lanka Bell Services, recently received the widely respected ISO 9001: 2008 Quality Management System certification.
Sri Lanka Distilleries June net up 46-pct
Aug 13, 2010 (LBO)
Distilleries Company of Sri Lanka group's June 2010 quarter net profits rose 46.4 percent to 832.5 million rupees from a year ago on higher sales and lower distribution and finance costs, its accounts showed.
Sri Lanka Distilleries March Quarter net 59-pct lower, full 30-pct
June 07, 2010 (LBO)
Sri Lanka's Distilleries Corporation group said net profit fell 59.3 percent to 272.2 million rupees in the first quarter while revenues fell 17.9 percent with an insurance unit which was no longer in the group.
Lanka Bell, People’s Choice
Mar 21, 2010 (Sunday Leader)
Top telecoms solutions provider Lanka Bell, the people’s choice in C.D.M.A. with 1.2 million subscribers, saw its leadership and innovation role in the Sri Lankan telecom sector further cemented recently with the company being awarded the coveted “People’s Fixed Telecom Service Brand of the Year” at 2010’s People’s Awards;
Sri Lanka Distilleries makes hydro power move
Mar 30, 2010 (LBO)
Distilleries Company, said it was spending 750 million rupees to buy into a 4 MegaWatt
hydro power plant in a tea plantation which is an associate firm in its group.
Bell Solutions appointed as IBM Business Partner
18 March 2010 (DM)
Bell Solutions has announced
its appointment as an authorised business partner for IBM in Sri Lanka. The partnership
will enable Bell Solutions to specialise in IBM security solutions, IBM servers
and storage and IBM services. Corporates and Small and Medium Businesses would further
benefit by having partners specialising in identified business areas of IT.
NAMAL Acuity Value Fund realises net gain of Rs 58.7 mln in 3rdQ
21 Feb, 2010 (Sunday Times)
Value Fund (NAVF), in its first quarterly report for the period ended December 31
2009 since being listed on the Colombo bourse says the net gain during this period
was Rs 58.47 million.This was made up of interest income (Rs 3.39 million), realised
gains from sale of shares (Rs 4.80 million) and unrealized gain from shares (Rs
50.28 million), the company said. At the end of this period the Net Asset Value
of the Fund stood at Rs 582.59 million.
NAMAL Acuity Value Fund releases investor information
Feb 19, 2010 (DM)
NAMAL Acuity Value
Fund (NAVF), the first close ended fund listed at the Colombo Stock Exchange yesterday
released its first quarterly report for the period ended 31 December 2009. A 10-year
fund, NAVF was launched by NAMAL together with Acuity Partners Limited in September
2009 to enable investors to profit from Sri Lanka's post war economic resurgence
by investing primarily in listed equities and also in listed and unlisted debt securities.
Lanka Bell's novice Toastmasters excel at cricket!
Jan 28, 2010 (DM)
Lanka Bell, a company
that facilitates the communication of more than 1.2 million Sri Lankan offices and
homes, is now providing its employees an opportunity to master their communication
and leadership skills, by becoming the latest Sri Lankan company to form its own
NAMAL Amana Equity Fund declares dividend
10 Jan, 2010 (Sunday Times)
The NAMAL Amana Equity Fund, a
Shariah compliant-scheme, declared a dividend of Rs.1.25 per unit on 30 December
2009, enabling investors in the fund to receive the dividend which includes a non-Shariah
compliant income of 4 cents per unit as certified by the Shariah Supervisory Council
of Amana Capital Limited.
Sri Lanka Distilleries group insurance unit approved by regulator 24th Dec 2009 (LBO)
Distilleries group said in a stock exchange filing the Insurance Board of Sri Lanka
had approved its application to set up an insurance subsidiary called Continental
HDFC joins Lanka Bell payment network - October 21, 2009 Daily Mirror
Top telecommunication solutions provider Lanka Bell’s island-wide bill settlement
network has grown by another 24 outlets with the company’s new partnership with
HDFC Bank. Lanka Bell bills can now be settled at any HDFC branch island-wide. Payments
can be made by cash or cheque, the company said .
Trading of Units of NAMAL Acuity Value Fund on the CSE - October 14, 2009 Daily Mirror
The Units of the NAMAL Acuity Value Fund (NAVF) is listed from October 12 and classified
under the Closed end Fund Sector at the Colombo Stock Exchange. “The NAVF is a collective
investment scheme designed for investors seeking capital appreciation on their investment”
a press release from National Asset Management Limited (NAMAL), the managers of
the Fund stated.
Sri Lankan close-ended fund opens trading October 12, 2009 (LBO)
Sri Lanka's first ever close-ended fund, the NAMAL Acuity Venture Fund (NAVF) opened
trading at 57 rupees today, brokers said. On October 09, 2009 the fund in a stock
exchange filing said, its net asset value of 50.62 rupees per unit.
Lanka Bell cuts call rates to India Oct 07, 2009 (LBO)
Sri Lanka's wireless access provider Lanka Bell said it has reduced call rates to
India. Lanka Bell said in a statement the new call rates to India enable subscribers
to make phone calls to the island’s closest neighbor for 4.80 rupees a minute excluding
Lanka Bell offers call conferencing Sept 03, 2009 (LBO)
Sri Lanka's wireless access provider Lanka Bell is offering a call conferencing
facility, where callers from any network and internet calling applications can be
NAMAL Acuity Value Fund oversubscribed 17/09/2009 (Daily News)
National Asset Management Limited (NAMAL) has informed the Colombo Stock Exchange
(CSE), that the Initial Public Offering (IPO) of the NAMAL Acuity Value Fund to
the value of Rs. 1 billion was oversubscribed on the opening date of the IPO.
Sri Lanka pioneer closed-end fund raises Rs1.0bn 16/09/2009 (LBO)
Sri Lanka's first listed closed-ended fund, NAMAL Acuity Fund had been oversubscribed
on the opening day and managers said an option to issue additional units will be
NAMAL wants rules eased on unit trusts 13/09/2009
National Asset Management Ltd (NAMAL) says it will launch a similar fund to NAMAL
Acuity Value Fund (NAVF) for foreigners if regulations are relaxed.
NAMAL and Acuity partners to launch Rs. 1 billion IPO 04/09/2009
National Asset Management Limited (NAMAL) and Acuity Partners will launch the Initial
Public Offering (IPO) of the NAMAL Acuity Value Fund to the value of Rs 1 billion.
Distilleries Group records Rs. 3.4 b PAT in 2007/08 Sep 11, 2009
A dividend of Rs. 2.25 per share has been proposed by the Board of the Distilleries
Group of Companies to its shareholders for this year, an increase of 28 percent
compared to last year.
This reflects the Group's strong performance and continued confidence in the future
of the business, said Chairman of the Group D.H.S. Jayawardena in the Group's annual
report for year 2008/09.
Sri Lanka Distilleries 2008 profits up despite sharp March quarter fall 08/06/2009
Distilleries Company of Sri Lanka said March 2009 quarter net profit halved to 626.59
million rupees 670.3 million rupees but that its 2008 annual profits grew 4.2 percent
to 4.27 billion rupees due to higher spirit sales.
Sri Lankan stocks hit by Distilleries verdict 04/06/2009 (LBO)
Sri Lankan shares dived on Thursday after courts reversed the privatization of an
insurer controlled by a listed firm, saying it was illegal, while the rupee held
steady against the greenback.
Sri Lanka Distilleries group profit soars 10/03/2008 (LBO)
Sri Lanka's Distilleries group, which controls Sri Lanka Insurance, said net profit
for the December 2008 quarter shot up 192 percent to 1.3 billion rupees from a year
Sri Lanka share trading pumped up by JKH, Distilleries Dec 16, 2008 (LBO)
Sri Lankan share trading picked up Tuesday with sizeable transactions in conglomerates
John Keells Holdings and Distilleries pumping up volumes, although the indices still
ended marginally lower, brokers said.
Sri Lanka shares rise marginally, Distilleries boosts trading volumes Nov 28, 2008
Sri Lankan share prices ended slightly firmer Friday, with volumes pushed higher
by large trades in Distilleries Company but concerns over company earnings still
weighing on the market, brokers said.
DCSL Group posts Rs. 4,175mn profit 22/09/2008 (Daily News)
The Distilleries Group’s consolidated turnover has grown by 21% to record Rs.56
billion from Rs. 47 billion in the previous year, group CEO, Ranil de Silva said
in their annual financial year review.
Sri Lanka Distilleries group says insurance, telecom profits being squeezed
Sept 18, 2008 (LBO)
The Distilleries Company of Sri Lanka group has said the profitability of its insurance
and telecommunications businesses is being eroded by fierce competition and price
Sri Lanka Distilleries June profit falls as costs rise Sept 02, 2008 (LBO)
The Distilleries Company of Sri Lanka group said net profit for the June quarter
fell 16 percent to 1.15 billion rupees from a year ago.
Sri Lanka stocks weaken, Distilleries in focus ahead of court verdict Aug 22, 2008
Sri Lankan stocks weakened further Friday with anticipation mounting over a court
verdict on the privatization of Sri Lanka Insurance Corporation (SLIC), part of
the Distilleries group.
Sri Lanka Distilleries annual profit falls as costs rise June 4, 2008 (LBO)
Distilleries Company of Sri Lanka said March quarter group profits went up 16.6
percent but it ended the financial year with earnings down six percent to 3.38 billion
rupees, according to results released to the Colombo Stock Exchange.
Sri Lanka Distilleries group appoints new chief, unit heads April 10, 2008 (LBO)
The Distilleries Company of Sri Lanka (DCSL) has appointed a group chief executive
and as well as new executives to head subsidiaries Sri Lanka Insurance and Lanka
Bell, the company said. A group chief executive position is being held by Ranil
de Silva from February 01, 2008, the company said in a stock exchange filing.
Sri Lanka Distilleries December quarter profits flat Mar 03, 2008 (LBO)
Profits of the Distilleries Company group, which includes Sri Lanka Insurance Corporation,
were almost flat at 582 million rupees for the December quarter as it was hit by
sharply higher funding and tax costs.
Sri Lankan Distilleries in Forbes's 'Best Under a Billion' Oct 09, 2007 (LBO)
Distilleries Company owned by tycoon Harry Jayawardene is the only Sri Lankan company
that has made it into the Forbes’ list of Asia’s 200 'Best Under a Billion' corporate
rankings. Each year the US business magazine lists companies with less than a billion
dollars in sales over the past year, screening them for consistent profitability
and growth, and future outlook.
Sri Lanka Distilleries June quarter profits up by half to Rs 1.4 Bn September 03,
Profits of the Distilleries Company group, which includes Sri Lanka Insurance Corporation,
increased by 54 percent to 1.4 billion rupees in the quarter ended June 2007. Group
revenue grew by 28 percent to 14.7 billion rupees from 11.5 billion over the same
Harry J takes captainship at Distilleries, amidst stellar earnings November 30, 2006
Business tycoon Harry Jayawardena took charge as Chairman of Distilleries Co. of
Sri Lanka Thursday, ending weeks of shadow battles in the boardroom. Jayawardena
told shareholders during the annual general meeting, that the board of directors
appointed him, as Distilleries' main shareholder, Milford Holdings, did not appoint
ex-chairman V P Vittachi.
Distilleries Co. of Sri Lanka profits rise 14 Sep, 2006
Profits of the Distilleries group, which controls the unlisted Sri Lanka Insurance
Corporation, has doubled to a billion rupees in the June quarter, according to interim
results released by the company.