Financial Times

Environmental Resources Rights Issue triggers loss

Environmental Resources Investment PLC recorded a Rs.17 million net loss for the six months ended 30 September 2009 which according to the company’s provisional financial statements, is 117% more than the Rs.7.8 million loss for the same period in 2008.

Contributing to the higher net loss for the period were expenses for the Rights Issue. According to the company, an Extraordinary expense of Rs.19.8 million was incurred during the quarter ended 30 September 2009 as Stamp Duty for the 1:3 Rights Issue.

The company’s other income increased by 730% for the six months ended 30 September 2009 to Rs.10 million from 2008 although administrative expenses increased by 30% to Rs.7.4 million.

 
Top to the page  |  E-mail  |  views[1]
 
Other Financial Times Articles
‘Wait and See’ policy by top investment fund
Harry J still controls HNB
CPC losses could surpass earlier estimates in hedging case
Central Bank finalizes repayment to small GK depositors
Apollo Hospital to change to Lanka Hospitals
Crisis at SLIC board settled by PBJ
150 foreigners, 60,000 locals invest in Treasury bonds
Comment - Business, investment uncertainty lingers on
JVP hartals, bullock carts, floods in the city and the once-green Colombo city
Sri Lankans planning to visit Austria in a tizzy
Ceylon Investment shows 2Q10 profit
Sri Lankan hotels given World Travel Awards
Letter - Need for Probe Commission on Ceylinco, failed finance companies
Letter - Senior citizens struggle with new interest rates
New programme to ensure investments benefit the community
Demand for air travel in another 1-2 years-Emirates Chief
Vidullanka reports impressive 1H profits
Interest rates in government securities market ease further
Christmas at ODEL
AAT Incorporation caught up in parliament prorogation
Oman Air in Sri Lankan skies
Sri Lanka’s broadband shows over advertising and under delivery
Telcos see declining profitability
Rating agency downgrades financial strength of Seylan Bank
Dankotuwa Porcelain posts loss in 3Q09
Rs.1 bln worth of illegal cigarettes confiscated
Moratuwa University's 'InnoMech 2009' hopes to inspire inventors
SLPA ports losing ground to SAGT
Japanese investors urged to make use of Indian market through Sri Lanka
Dialog improves performance in third quarter of 2009
Brandix to dazzle Design Festival with breath-taking fashion show
Standard Chartered appoints new Sri Lanka CEO
Road Map mooted to retain GSP+ concessions
Letter - Share market – incentive to gamble
Insurance brokers group appoints a new council
Sri Lanka Tourism launches international campaign
Letter - Kerala wants Sri Lankan coconut pluckers
Nokia recalls phone chargers due to electric shock fears
Financial Mentoring Service to mid-sized firms from Accounting Options
Profits soar at First Capital in first half of ’09-10
'Feel Negombo 2009' - Negombo's Beach Festival
Environmental Resources Rights Issue triggers loss
Leopard Investment to start after Jan 2010
Memorial lecture on “budget debate in parliament”
For IT industry growth, education barriers must be overcome

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2009 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution