Will the new owners continue as a listed company?
The Employees Provident Fund (EPF), the second largest shareholder of Piramal Glass Ceylon PLC (PGC), has not accepted an attractive mandatory offer of Rs. 11.86 per share made by the company’s new controlling shareholder, a unit of the mega Blackstone Group of the U.S, sources familiar with the transaction said last week.
The offeror, Pristine Glass Ltd. based in India which is a unit of Blackstone, has acquired 22.2% (approx.) of the company topping up the 56.45% (approx.) of Piramal it already held before the mandatory offer, to 78.65% (approx.), according to a Stock Exchange filing made by PGC last week.
Sri Lanka Telecom PLC (SLT) Group released its financial results for the first quarter of 2021, with a remarkable 14.3% year-on-year growth in Profit After Tax (PAT) to Rs. 2.1 Bn.
The Group revenue went up to Rs. 24.7 Bn for the period with a 11.4% year-on-year growth, strongly underpinned by the growth in revenues of FTTH, 4G LTE, mobile broadband services, PEOTV services and carrier domestic services. International voice revenue reflected a de-growth while international revenues from global transit and global data soared compared to the same period last year.
The EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) of the Group improved to Rs. 9.7 Bn, a 13.6% year-on-year growth, lifting the EBITDA margin up to 39.4% from 38.6% in the same period last year. The surge in revenue largely contributed to the EBITDA growth. The growing capital expenditure in order to align with the global technological trends pushed the Depreciation and Amortisation of the Group up t
Dubai Culture to celebrate emirate’s cultural landmarks at ATM
DUBAI, 8 days ago Through its participation at the Arabian Travel Market (ATM) 2021, the leading global event for the travel and tourism industry, via the Department of Tourism and Commerce Marketing (Dubai Tourism) pavilion in hall 3, booth 6, Dubai Culture and Arts Authority (Dubai Culture) is continuing its role in enhancing Dubai s position as a global hub for culture and creativity, and supporting the culture and arts sector in the emirate, by shedding light on the emirate s key cultural and artistic attractions. As part of its participation in ATM 2021, which will take place physically from May 16 – 19, Dubai Culture is highlighting Etihad Museum, a national edifice and distinctive tourist landmark that carries the history of a nation and inspires visitors through the story of the founding of the UAE. The Authority will also highlight Al Shindagha Museum and its details that navigate the depth of the
SLT Group Revenue recorded at Rs. 24.7 Bn in Q1 2021, Net Profit improved by 14%
May, 14, 2021
Group Revenue recorded at Rs. 24.7 Bn, 11.4% year-on-year growth
Group Operating Cash Flow almost tripled to Rs. 12.2 Bn for the quarter
Capital expenditure investment of Rs. 5.6 Bn for the quarter
Direct and indirect taxes including levies totalling Rs. 3.7 Bn was paid to the Government of Sri Lanka (“Government”), 1Q 2021
Sri Lanka Telecom PLC (SLT) Group released its financial results for the first quarter of 2021, with a remarkable 14.3% year-on-year growth in Profit After Tax (PAT) to Rs. 2.1 Bn.
The Group revenue went up to Rs. 24.7 Bn for the period with a 11.4% year-on-year growth, strongly underpinned by the growth in revenues of FTTH, 4G LTE, mobile broadband services, PEOTV services and carrier domestic services. International voice revenue reflected a de-growth while international revenues from global transit and global data soared compared to the same period last y