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The report is long but these paras caught my eye: Full report on the following link:
http://www.asiantribune.com/news/2011/05/08/sri-lanka-colombo-all-share-price-index-reach-12000-2013-report
The Analysis by NDB stock brokers forecast that Lankan Equity Market needs expansion as the Sri Lankan equity market does not properly represent the overall economy. Accordingly, the report outlines that the key sub segments of the economy including Retail trade, Transportation, Banking and Insurance giants such as Bank of Ceylon (BOC), People’s Bank (PB), National Savings Bank (NSB), Sri Lanka Insurance Corporation (SLIC), Business Process Outsourcing giants such US listed Virtusa, Millenium Information Technologies (MIT), Textiles giants such as Brandix, MAS Holdings, Power & Energy giants such as Ceylon petroleum Corporation (CPC), Ceylon Electricity Board (CEB), Mining segments, Paddy, Minor Exports and Fishing segments are hardly represented in the equity market.”
“Hence we estimate the equity market represents less than 30% of the overall economy,” NDB analysts outline. However the report points out that the robust economic growth will be reflected in the increase in revenues recorded by all listed companies, although certain sectors will record higher growth compared to others.
“In line with the real GDP growth estimate of 8%, but we estimate an average revenue growth of 15% per annum.” The report further highlights adding that a one off benefit of over 10% is expected to the corporate profits in 2011 with the reduction of corporate tax from 35% to 28%. Analysts also forecast that in addition with economies of scale and increased utilization of capacity (operating leverage), the operating profit margins are estimated to improve by 1% per annum.
“Accordingly we estimate an average growth in core earnings excluding exceptional items per share, basis of 40% for 2011 and around 25% for 2012 and 2013.”
http://www.asiantribune.com/news/2011/05/08/sri-lanka-colombo-all-share-price-index-reach-12000-2013-report
The Analysis by NDB stock brokers forecast that Lankan Equity Market needs expansion as the Sri Lankan equity market does not properly represent the overall economy. Accordingly, the report outlines that the key sub segments of the economy including Retail trade, Transportation, Banking and Insurance giants such as Bank of Ceylon (BOC), People’s Bank (PB), National Savings Bank (NSB), Sri Lanka Insurance Corporation (SLIC), Business Process Outsourcing giants such US listed Virtusa, Millenium Information Technologies (MIT), Textiles giants such as Brandix, MAS Holdings, Power & Energy giants such as Ceylon petroleum Corporation (CPC), Ceylon Electricity Board (CEB), Mining segments, Paddy, Minor Exports and Fishing segments are hardly represented in the equity market.”
“Hence we estimate the equity market represents less than 30% of the overall economy,” NDB analysts outline. However the report points out that the robust economic growth will be reflected in the increase in revenues recorded by all listed companies, although certain sectors will record higher growth compared to others.
“In line with the real GDP growth estimate of 8%, but we estimate an average revenue growth of 15% per annum.” The report further highlights adding that a one off benefit of over 10% is expected to the corporate profits in 2011 with the reduction of corporate tax from 35% to 28%. Analysts also forecast that in addition with economies of scale and increased utilization of capacity (operating leverage), the operating profit margins are estimated to improve by 1% per annum.
“Accordingly we estimate an average growth in core earnings excluding exceptional items per share, basis of 40% for 2011 and around 25% for 2012 and 2013.”
