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Company profits slow in June quarter

Profits of companies listed on Sri Lanka’s stock exchange grew by 8.2% in the June 2017 quarter, up from a year earlier, with higher commodity and energy prices and floods affecting consumer spending, a brokerage said.


Total June quarter earnings of firms quoted on the Colombo stock exchange of Rs 54.9 billion were dominated by a “healthy performance” in the banking sector, up by 23% from a year ago, the food, beverage and tobacco sector, up 54%, First Capital Equities said.


The capital goods sector, whose profits rose 23%, insurance firms whose earnings rose 36% and the health care equipment and services sector, where profits grew 22% from the year before also contributed to earnings growth in the quarter, they said in a report.



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