Indices move up
The indices at the Colombo Stock Exchange continued their upward
movement Thursday with the ASPI gaining 24 points (+1.0%) to close at
2,406 while the MPI, which tracks the most liquid stocks, gained 38
points (+1.4%) to close at 2,896. Turnover for the day was Rs 137.4
million, driven by trades in ACL Cables (Rs 21.7 million) and John
Keells Holdings (Rs 12 million).
Horana Plantations (HOPL) released its annual report for the year
ended March 2008, reporting a 24% increase in turnover to Rs 1.6
billion, but a marginal decline (by 1%) in profits to Rs 152 million.
HOPL's main sources of revenue are tea (72% of revenue) and rubber (24%
of revenue) while it also derives revenue from other crops and its
leisure properties. HOPL's EPS for the year was Rs 6.08. The share
closed at Rs 33.75
Plantation stocks were the prominent gainers for the day with
Madulsima (+21.4%) closing at Rs 17.00, Malwatte Valley (+14.9%) to Rs
58.00, Balangoda Plantations (+14.3%) to Rs 32.00, and Kotagala
Plantations (+12.2% ) to Rs 55.00. Dialog Telekom closed at Rs 13.75,
while Sri Lanka Telecom closed at Rs 43.50.
Source: First Guardian Equities
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