Hela Apparel Holdings PLC has reported a remarkable financial turnaround for the second quarter ending 30 September 2024, marking the return to operating profit for the first time in eight quarters. The company attributes this strong performance to the recovery in demand from key export markets and the successful outcomes of its ongoing restructuring efforts.
Fitch Ratings announced that Sri Lanka’s ongoing economic recovery, combined with moderating inflation and lower interest rates, is set to drive the growth of finance and leasing companies (FLCs) in the financial year ending March 2025 (FY25). The positive outlook is also supported by the potential relaxation of vehicle import restrictions, which have been in
SLT-Mobitel has demonstrated resilience in the first half of 2024, reporting moderate revenue growth alongside significant improvements in profitability. For 1H2024, the group’s revenue reached Rs.53.5 billion, reflecting a 1.6 percent increase from the previous year. Gross profit grew by 4.0 percent to Rs.20.9 billion, with the gross profit margin expanding to 39.0 percent. Despite
Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) spent 648.7 million US dollars on oil imports in the first four months of 2024, down from 828.4 million dollars due to the entry of other market players, according to a Finance Ministry report. CPC’s turnover fell to 389.1 billion rupees by April 2024, down 16.6 percent from