Historic Earnings Milestone for Colombo Stock Exchange
Posted 15,June

By Chaveendra Dunuwille

In Local News

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According to the recent analysis concluded by Softlogic Stockbrokers the 1st quarter earnings of the listed companies in the Colombo Stock Exchange reached  and surpassed the LKR 100 billion milestone for the first time in its history. The  recorded growth according to the analysis is 189% improvement compared to the  same time period the previous year.  

With the recording of over LKR 109 billion in quarterly earnings the Total  reported earnings tally for 6 months reached LKR 195 billion and LKR 285 billion  on Trailing 12 month (TTM) basis. Experts point out that the growth is testament to the favourable climate for local investors during the post lock down period  which included import protectionism, economic stimulus and the depreciation  of the US Dollar.  

A detailed breakdown of the historic quarterly earnings show that the earnings  made by the banking sector had increased by 70% to record LKR 24.8 billion.  The Capital goods sector earnings were valued at LKR 22.3 billion demonstrating  a phenomenal increase of 214% in its earnings. Food, Beverages and Tobacco  earnings were up by an astonishing 827% valuing at LKR 16.7 billion. Materials  sector with its 267% increase showed earnings of LKR 7.95 billion.  

The telecommunications and transports sectors also demonstrated increases in  earnings by 36% and 998% to record LKR 4.6 billion and LKR 4 billion  respectively. The healthcare equipment and services sector showed an increase  in earnings by 532% to value at LKR 2.3 billion while the retail and utilities  sector showed increase in earnings of 612% and 99% respectively to show  earnings of LKR 1.35 billion and LKR 471 million.