CSE indices move up
The indices at the Colombo Stock Exchange moved up marginally with
the ASPI gaining five points (+0.2%) to close at 2,409 while the MPI,
which tracks the most liquid stocks, gained 7 points (+0.2%) to close at
Total turnover for Tuesday was Rs 277.8 million. Interest was seen in
Hayleys (Rs 49.9 million), AMW (Rs 49.3 million) and NDB Bank (Rs 22.1
Hemas Holdings (HHL) which released its results for the first quarter
ended June 2008, showed a 14.6% increase in net profits to Rs 271.1
million. The companyís turnover increased by 22.1% to Rs 3.8 billion.
The main contributors to group turnover were the power sector (37%),
FMCG (28%) and Healthcare (23%) with the leisure, transport and
miscellaneous divisions accounting for the balance.
In terms of profitability, the segmental contributions were Power
(34%), FMCG (41%) and Healthcare (10%) and Transportations (23%). The
groups transportation sector grew the fastest with revenue of Rs 247
million (+79%) and profits of Rs 60 million (+123%).
This was accounted for by the newly acquired Far Shipping Lines
business in addition to the groupís representation in the airlines
In the healthcare segment the company hopes to commence operations of
the Wattala Hospital in August with the unit being fully operational by
November of this year. HHLís EPS for the period under review was Rs 2.68
while its NAV was Rs 64.92. HHL closed Tuesday at Rs 78.00
Large cap stocks Dialog closed at Rs 13.50, JKH closed at Rs 148.25
and SLT at Rs 44.75.
Source: First Guardian Equities