CINS revenue up by 23%

The indices at the Colombo Stock Exchange moved down marginally with the ASPI losing 1 points to close at 2,425, while the MPI, which tracks the most liquid stocks lost 5 points (-0.2%) to close at 2829. Total turnover for Thursday was Rs 148 million mainly driven by transactions in CIC (Rs 24.9 million), Ceylon and Foreign Trades (Rs 11.9 million) and Chevron Lubricants (Rs 8.3 million)

Ceylinco Insurance (CINS) released its financial results for the half year ending June 2008 to report an increase in revenue of 23% to Rs 9.4 billion while net profit for the period grew 18% to Rs 252 million. CINS’ net written premiums increased 18% to Rs 8.4 billion, while the while its life insurance fund increased by Rs 2.3 billion.

CINS’ EPS was Rs 12.63, while its NAV stood at Rs 246.67. CINS’ voting share closed at Rs 217.50 while the non-voting share closed at Rs 173.00.