Company filings and market news from across Sri Lanka's stock market.
Sri Lanka's tea production rose 2.4% YoY to 262.15 million kilos in 2024. Medium-grown tea led gains (+12.5%), high-grown fell 5%, and Asia Siyaka forecasts production could exceed 275 million kilos in 2025 if conditions remain stable.
Asia Siyaka Commodities Plc acquired control of fertilizer startup AgriOne Solutions, spending Rs178.5m and committing a further Rs76.5m (total Rs255m), and will provide Rs1,000m in corporate guarantees for AgriOne's import loans. It holds 55.87% now, which will fall to 51% after other investments.
Asia Siyaka reported Sri Lanka's tea export earnings for Jan–Nov reached $1.304bn on 223 million kg, while November volumes fell 6% YoY to about 20 million kg. It noted a stronger Sri Lankan rupee has reduced auction prices and returns to tea producers despite higher FOB/kg in USD.
Asia Siyaka said tea export volumes rose 14% YoY in October to 20.7 Mnkg, taking Jan–Oct volumes to 203.1 Mnkg and lifting earnings to Rs. 360.5 billion (~$1.186bn). Value-added exports hit a 16-year low even as tea bag and instant-tea segments grew 11% and 22% YoY.
Colombo market extended its pre-election rally as the ASPI gained 136 pts to 13,125 and the S&P SL20 neared 4,000 on turnover of Rs.7bn. Banking stocks led the advance (Sampath, DFCC, NDB, NTB, JKH, LOLC, MELS, CTHR among contributors) and several firms (ASIY, GRAN, TAFL, GLAS) announced interim dividends.
Dividend · Rs 0.22 · XD Nov 25, 2024
First Interim dividend of LKR 0.22/share; XD 2024-11-25; record 2024-11-25; payable 2024-12-12; FY 2024/2025
Asia Siyaka Commodities PLC said Sri Lanka's tea export value for Jan–Sep reached $1.059 billion while September volumes dropped 15% YoY to 19.7m kg (a 26-year low). The company noted Rupee strengthening left rupee earnings flat at Rs.323.3bn, limiting benefits to producers.
September tea production hit a seven-year high of 24.13 million kilos (+27.7% YoY); Jan–Sep 2024 cumulative production rose 1.41% to 196.21 million kilos.
Colombo's ASPI fell 4 points to 11,930 as the market stayed bearish, with S&P SL20 down 26 points (0.7%), turnover Rs.1.3bn and net foreign outflow of Rs.18m. Major negatives were HNB, SAMP, COMB, HAYL and JKH while CINS and PKME (PickMe) were among gainers; Commercial Credit and Lankem also rose.