Lanka Floortiles PLC (TILE)
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Lanka Floortiles PLC (TILE) – Q1 FY 16 – BUY

Rising on subsidiary strength, despite systemic risk : BUY TILE posted a substantial increase of 62% YoY in earnings during the quarter, posting an EPS of LKR 3.69 (Q1 FY 15 – LKR 2.27). The rise was mainly as a result of the 13% YoY growth in local sales which strengthened bottom line performance. However, […]

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Textured Jersey Lanka PLC
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Textured Jersey Lanka PLC – (TJL) – Q1 FY 16 – BUY

Outlook upgraded plus a possible safe haven from Rupee exposure: BUY TJL’s bottom line for Q1 FY 16 grew 25.6% YoY to LKR 206mn resulting in an EPS of LKR 0.31 (BRS estimate – LKR 0.33). The net profit included one month consolidation of Quenby Lanka Prints (QLP). EBIT margin improved to 6.8% (Q1 FY […]

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Sunshine Holdings PLC
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Sunshine Holdings PLC – (SUN) – Q1 FY 16 – HOLD

Healthy growth, in line with forecast : HOLD SUN recorded a recurring net profit of LKR 315mn for Q1 FY 16 with an EPS of LKR 1.20. Top line improved 4.9% YoY, despite a lackluster performance in Agri. The growth in group top line stemmed from Healthcare and FMCG, which grew 17.5% YoY and 16.4% […]

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John Keells Hotels PLC
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John Keells Hotels PLC – (KHL) – Q1 FY 16 – SELL

John Keells Hotels PLC (KHL :17.00 )  Competition exposing the margins: SELL In Q1 FY 16 KHL recorded an EPS equivalent to Q1 FY 15 EPS of LKR 0.09. With the Sri Lankan hotel segment posting an operational loss, group EBIT decreased to LKR 181mn (-10.3% YoY) , lowering the EBIT margin to 7.9%. Intense competition […]

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Ceylon Cold Stores PLC
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Ceylon Cold Stores PLC – (CCS) – Q1 FY 16 – Take Profits

A great quarter all around- but too much built into share price: Take profits Valuation Summary Trading Snapshot ASPI Vs. Share Price Movement BRS Research CCS’s recurring EPS for Q1 FY 16 grew 84% YoY on the back of successful operations streamlining it had been implementing. EPS was LKR 5.78 where the top line grew […]

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Sampath Bank PLC
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Sampath Bank PLC – (SAMP) – Q2 FY 15 Preview – BUY

Outlook improved but capital is a concern: BUY Valuation Summary Trading Snapshot EPS BRS Research We expect SAMP to post a subdued loan growth of 1.8% in Q2 FY 15 (Q1 FY 15 – 2.3%), triggered by slower-than-expected private sector credit growth. Declining rates, change in loan mix together with slow credit growth would add […]

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John Keells Holdings PLC
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John Keells Holdings PLC – (JKH) – Q1 FY 16 Preview – BUY

We expect Consumer Foods & Retail (CF & R) to continue to push above expectations with restructuring of the supermarkets and the expanded product mix. Although leisure sector would contribute the highest overall to bottom line in FY 2016E, this may not be in Q1 FY 16 given the seasonality in the sector earnings. We […]

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Lanka Walltiles PLC
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Lanka Walltiles PLC – (LWL) – Q4 FY 15 – BUY

Upside continues despite the plantation woes: BUY Recurring PAT for Q4 FY 15 grew 48% YoY to LKR ~492mn propped by top line growth in tiles & associated items (+26.5% YoY) and a 50% reduction in finance cost to LKR ~63mn. However, a reduction in income tax by ~30% to LKR 109mn also aided bottom […]

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Ship building headwinds still continue –  (DOCK.N0000) HOLD
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Ship building headwinds still continue – (DOCK.N0000) HOLD

DOCK’s net profit was flat rising 1.4% YoY to LKR 134mn in Q1 FY 15. This resulted in an EPS of LKR 1.87 (+2.7%). Top line for the quarter however declined 13.2% to LKR 3.67bn due to timing differences in revenue recognition attributable to ship building segment. During FY 2014, DOCK’s revenue and profitability declined […]

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Lanka Floortiles PLC
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Lanka Floortiles PLC – (TILE) – Q4 FY 15 – BUY

Subsidiaries preserve overall margins Lower CoGs, finance costs and higher contribution from PARQ made TILE’s Q4FY15’s EPS rise 53% to LKR 5.78. PARQ has been a consistent contributor to TILE’s performance in FY 2015, pushed by subsidiary Swisstek Aluminum. PARQ contributed LKR 111mn for FY 2015 (+112.6% YoY). However, revenue for the year was a […]

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BARTLEET RELIGARE SECURITIES (PVT) LTD. – RELOCATION OF BANDARAWELA BRANCH

The Bandarawela branch has been relocated to No.374/1, 2nd Floor, Badulla Road, Bandarawela with effect from 02nd March 2015. Contact Nos: 057-5675083, 057-2223247

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