Richard Pieris Group in record profits
Richard Pieris Group reported healthy results
despite the many challenges faced both in the world and local
environment. The Group made a net profit before tax of Rs 1.1
billion which was the highest profit achieved in the last five
years. Group borrowings reduced by Rs 1.6 billion to Rs 5.2 billion
thereby further strengthening its Balance Sheet.
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TRCSL to increase ADSL lines to 3 m
The Telecommunications Regulatory Commission of
Sri Lanka (TRCSL) is planning to increase the country’s total ADSL
lines to 3 million within the next five years. There are 300,000
ADSL lines in the country and it needs to be increased upto 3
million in next five years. For this relevant agencies need to work
together to enable countrywide coverage which will benefit internet
users, TRCSL, Director General Anusha Palpita told Daily News
Business.
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The Finance makes good recovery
The Finance Company (TFC) will reach breakeven
point by September this year. The company has been able to re-build
confidence of customers which has resulted in an increase of monthly
deposits upto Rs 100 million. Deputy Finance Minister Dr Sarath
Amunugama who was the chief guest at the 70th anniversary
celebrations of TFC said that during the last 70 years financial
institutes worldwide have undergone a tremendous change.
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