DFCC recorded favourable growth in the first half of FY2016 ending 30th June 2016, with a consolidated profit after tax of Rs.1,721 million which is 16.1% over the Rs.1,482 million recorded in the comparable period ended 30th June 2015.
During this period net interest income increased by 9.4% to Rs.3,831 million from Rs.3,503 million in the comparable period, while net fee and commission income grew by 14.7% to Rs.600 million from Rs.523 million.
Seylan Bank recorded a strong half yearly performance with profits after tax reaching Rs.1,755 million, for the six months ended 30th June 2016, against the Rs.1,740 million reported in the corresponding period of 2015. Net interest income increased from Rs.5,835 million to Rs.6,147 million, a 5.34% increase for the six months. The Bank’s fee-based income recorded a robust growth of 20.21% from Rs.1,191 million to Rs.1,432 million during 1H 2016.
Hayleys net down
Profits at Sri Lanka’s Hayleys Group, which has interests in export manufacturing, construction, agriculture construction materials and tourism, said profits fell 32 percent to Rs.354 million in the June 2016 quarter, from a year earlier. The group reported earnings of Rs.4.73 per share. Group revenues rose 9 percent to Rs.24.11 billion, but expenses rose at a faster 11 percent to Rs.18.7 billion, allowing a 6 percent growth in gross profits to Rs.5.37 billion.
Distilleries Company of Sri Lanka, which has interests in beverages, insurance and agriculture, said profits rose 9.5 percent from a year earlier to Rs1.92 billion, with the core beverage firm sales going up. The group reported earnings of Rs.6.41 for the June quarter. At the core, alcohol company net revenue rose 31.8 percent to Rs.6.1 billion, the cost of sales rose 35 percent to Rs.3.3 billion and the firm grew gross profits 27 percent to Rs.2.86 billion.
Achieving its highest-ever Group Revenue and Earnings Per Share (EPS) for a single quarter, diversified conglomerate Sunshine Holdings PLC has concluded the first quarter of its 2017 Financial Year (1Q 2016/17) on a high note. For the quarter ended 30th June 2016, Sunshine Holdings boosted Profit After Tax (PAT) by a significant 30% year-on-year (YoY) to Rs. 408 million and increased Group Revenue by 11% YoY to LKR 4.6 billion.
Profits at Sri Lanka’s Dialog Axiata group rose 20% to Rs. 2.3 billion from a year earlier in the June quarter, interim accounts showed. The group reported earnings of 28 cents per share for the quarter compared to 23 cents per share a year ago.
Revenues grew 19% to 21.0 billion rupees in the quarter from a year earlier, direct costs rose at a slower 10% to 11.0 billion rupees and gross profits rose 30% to 10.0 billion rupees.