CSE To Report Historically High Earnings In Dec. Quarter
Posted 10,March

By Chaveendra Dunuwille

In Local News

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Listed Corporates Combined recorded the highest quarterly earing in CSE  history with the quarter that ended on the 31st of Dec 2020 recording LKR 85  billion. This historical accomplishment comes amidst that challenges posed to  industry by the Co-vid 19 pandemic 

The Softlogic Stockbrokers that analyzed the earnings stated that the figure  reflects on 33% of the year on year growth. This earing comes despite the LKR 6  billion loss suffered by companies designated under Consumer Services.  

The total earnings with the historic quarterly earing is valued at LKR 212.4  billion, a modest 0.5% increase in earnings in comparison to 2019. 

According to the statistics released the banking sector showed a 42% QoQ  increase in revenue, Capital Goods with 66% YoY in the 4th quarter. Food  beverages & tobacco showed a 3% decline in QoQ earnings largely due to the  uncertainty of customer spending. In the same time palm oil prices earnings  increased by 75% YoY for the 4th quarter.  

Health care equipment and services sector saw a significantly increased earnings of 105% in a year on year basis & 68% QoQ. This increase can be attributed to  the high demand for healthcare following the pandemic 

The growth in the Retail sector can be described as phenominal as it showed  earnings of 401% YoY. The peak of this increase occurred during the 3rd Quarter  of 2020.  

The Telecommunication sector due to its improved data consumption and  implementation of cost reduction policies experienced a growth of 21% YoY 

The Transport industry similarly experienced an astounding growth of 1930%  YoY. Utilities showed an earnings of 19% in the 4th Quarter that resulted from a  strong growth in power generation as a result of the prevailing favorable weather.  This growth amounted to a 1% growth in the sector. Power generation revenue  grew by 1018% YoY and by 103% in the 4th quarter.