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A first for the country:
Sri Lanka conquers overseas maize market
For the firs time in the Sri Lankan Agriculture
history maize is being exported in large volumes to Canada, Taiwan
and Gulf countries. Managing Director, Wayamba Traders Company,
Shahul Hameed Sadikeen told Daily News Business that that they would
be exporting 50, 000 metric tonnes mainly to be used as raw material
to manufacture poultry feed.
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SDBL maintains growth momentum in 2011
SANASA Development Bank Ltd (SDBL) has
registered a impressive performance during 2011 by making a growth
of 21% in deposits reaching Rs.15.2 billion from Rs.12.6 billion
recorded during 2010. The advances portfolio indicated a growth of
33% from Rs.12.4 billion to Rs.16.5 billion. The focus was, as
before, on the rural and SME sectors with a greater emphasis on the
group loan system, which has shown remarkable success. Due to
stringent controls, risk-management systems and collection
mechanisms, the bank's NPL portfolio ended on a strong note of just
4.5%, which puts it on par with the industry average and shows a
declining trend (5.84% in the previous year and 6.62% in 2009).
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NTB post tax profit Rs. 406 m
Nations Trust Bank closed the quarter ending
March, 31 2012, with a post tax profit of Rs. 406 million surpassing
the previous period by 8%. Current year quarter was driven by a
noticeable growth in business volumes, modest growth in top line
revenue and controlled growth in operating expenses. All business
pillars contributed to PBT in equal measure resulting in a well
balanced result. With the mandatory credit ceiling coming into
effect, business portfolios were re-positioned to optimize returns
in a controlled growth environment.
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Haycarb records Rs 8.5 b sales, Rs 724 m PBT in 2011/12
The world's leading coconut shell based
activated carbon manufacturer and exporter, Haycarb PLC has
sustained performance in the fourth quarter of 2011-12 despite
challenging external conditions and rising production costs to end
the year on a positive note.
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