InvestSriLanka: earnings

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26 July 2011

Sri Lanka Tourism Revenue up by 51pct in the First Half of 2011

25th July 2011, www.lankabusinessonline.com

Sri Lanka's tourism industry has earned 370.1 million US dollars in revenues in the first half of 2011, up 50.9 percent from a year earlier, amid a strong increase in arrivals, official data showed.

In the six months to June arrivals had grown to 381,538, up 36.9 percent from a year earlier, according to data released by the state tourism promotion agency.

The Central Bank data showed that tourism revenues had climbed to 41 billion rupees (370 million US dollars) from 27.9 billion (245 million US dollars) a year earlier.

Foreign visitors have been flocking to the country since the end of a 30-year war in 2009 and room rates have also moved up.

Related Info :

• Sri Lanka Records 43pct Growth in Tourism upto May 2011

• Sri Lanka Tourism Statistics and Tourist Arrivals

• Eastern Sri Lanka Tourism Takes Off with 1,000 Star Class Rooms in Pasikuda

28 April 2011

40pct Growth in Earnings of Listed Companies in the Colombo Stock Exchange Forecast in 2010 Compared to 18 to 22pct in Regional Countries

28th April 2011, www.dailynews.lk, By Charumini De Silva

The CSE has been able to capture more attention and interest in foreign investments compared to the regional markets.

There will be a 40 percent growth in the earnings of listed companies in the Colombo Stock Exchange (CSE) whereas the listed companies in the regional countries will record a growth of around 18 to 22 percent for this year.

Speaking to the Daily News Business Richard Pieris Securities CEO Jayantha Perera said the country indicates a positive economic outlook with the low interest rate regime encouraging tax system. “The growth momentum will continue,” he said.

The listed companies and investors will benefit remarkably while contributing immensely to enhance the economy.

The expected earnings in the market are trading currently at a price earning multiply of around 14 times.

“Investors are coming back and little collections on certain counters such as banking, food and beverage and retail sectors are noticed. Since the commodity prices have increased these counters have attracted an impressive number of investors. The overall market will re-bound fully at the beginning of May. Currently, there are a flock of buyers, but not enough sellers. This generates a lower daily turnover in the market,” he said.

There will be a number of upcoming Initial Public Offerings (IPOs) in the next few months and those who will not enter the capital market within the next couple of months will definitely regret.

The existing companies and the investors are harnessing high returns on their investments. There will be around four IPOs lined up for the next three months and this indicates the confidence level of both foreign and local investors over the CSE.

Related Info :

• Sri Lanka IPOs To Triple after Colombo Stock Index Posted the Biggest Gain in Asia

• Colombo Stock Exchange Earnings Soared 126pct Year on Year to Rs121.1bn in 2010. This year to Mirror the Same

• Colombo Stock Exchange All Time High. All Share Price Index Closed at 7,193.10

• Colombo Stock Exchange to Double Market Cap to $20bn by 2012

• Colombo Stock Exchange Becomes Best Performing Capital Market in the World Recording 111.14pct Growth

15 September 2010

Sri Lanka Earns More on Tourism in 2010 as Arrivals Go Up

13th September 2010, www.news360.lk

Sri Lanka’s tourism earnings during the 1st half of this year has risen to US$ 301 million comp

ared to last years same periods US$ 179.4 million.

This is a 68.8% increase when compared with the earnings made during the 1st six months of 2009.

Ministry of Finance expects the 2010 tourism earnings to reach US$ 600 million.

During the year 2009 the country only earned a sum of US$ 384 million via the tourism industry.

During the 1st 7 months of this year, Sri Lanka received 341,991 tourists, a high number compared to just 229,952 arrivals reported during the same period last year.

The Industry is hoping that the figure will get closer or surpass the 550,000 mark by the end of this year, way above the last year’s arrival figure of just 450,000 tourists.

Related Info:
Tourist Arrival Statistics