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LOLC Group achieves first-ever historic profitability in Sri Lanka’s corporate sector, recording a stunning Rs. 57 Bn in PBT May, 31, 2021 Sri Lanka’s most valuable and globally diversified financial conglomerate, the LOLC Group, posted a record-breaking performance for the financial year ending 31st March 2021, achieving unprecedented bottom line results of Rs. 57Bn in Profit Before Tax (PBT), and a Profit After Tax (PAT) of Rs. 53Bn - a first for any corporate in the country. By achieving profits on this massive scale in the history of Sri Lanka’s corporate world, the Group once again consolidated its position as the top most profitable diversified corporate in the country, three years in a row - establishing LOLC as one of the largest Micro and Small & Medium Enterprises (MSME) platforms in the world. ....
LOLC says acquisition is aimed at capturing post-COVID growth in tourism business Hemas says divestment is part of group’s portfolio direction and focuses on uplifting return on equity from core segments LOLC Holdings PLC’s strategic investment arm, Browns Investments PLC (BI), yesterday acquired the controlling stake of 55.65 percent of Serendib Hotel PLC, a subsidiary of Hemas Group, for a consideration of Rs.792 million. With this acquisition, BI will hold 56.67 percent of voting shares and 53.48 percent of non-voting shares of Serendib. Ishara Nanayakkara BI’s subsidiary leisure company, Eden Hotel Lanka PLC, made the investment. The voting shares, which amounted to 42.8 million, were bought at Rs.14.20 per share, for a consideration of Rs.608 million, while the non-voting shares, amounting to 19.2 million, were bought at Rs.9.60 a share. ....
With latest acquisition will hold 56.67% of voting and 53.48% of non-voting shares Will add range of luxury properties in both SL and Maldives Includes lease rights to 3 islands in North Malé, Bodufaru, Kaafu Atol Browns Investments Chairman Ishara Nanayakkara LOLC Holdings PLC’s strategic investment arm, Browns Investments PLC (BI), yesterday acquired the controlling stake of 55.65% of Serendib Hotel PLC (Serendib) for a consideration of Rs. 792 million, the company said in a statement. With this acquisition, BI will hold 56.67% of voting shares and 53.48% non-voting shares of Serendib. The investment was made by BI’s subsidiary leisure company, Eden Hotel Lanka PLC. ....