News & market updates

Lion Brewery (LION.N0000) is in talks with Diageo to locally produce Diageo spirit brands such as Vat 69 and Smirnoff, expanding into gin, brandy and vodka with feasibility work underway and outcomes expected in 2026.

Lion Brewery (LION.N0000) has built a 4 billion-rupee, 2,000-litre innovation centre to develop new beers and aims to increase exports to US$35m (about 20% of output) over the next five years. The facility will allow small-batch testing to reduce wastage and market new products to tourists; Distilleries (DIST.N0000) is noted as a competitor.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

Colombo Stock Exchange closed higher as ASPI rose 0.88% to 13,164 and the S&P SL20 gained 1.06% to 3,917, with turnover Rs5bn and Rs2.7bn in banking stocks. The banking sector drew local investor interest after the government set a deadline for the ISB exchange, with Sampath Bank among top turnover names.

Dividend · Rs 1.00 · XD Nov 27, 2024

First Interim dividend of LKR 1/share; XD 2024-11-27; record 2024-11-27; payable 2024-12-12; FY 2024/2025

Colombo Stock Exchange rose, with the ASPI up 0.24% to 13,231 on Nov 18 and turnover of Rs5.5bn led by banks (Rs1.8bn) and capital goods (Rs1.1bn). Distilleries Company announced a first interim dividend of Rs1 and its share closed at Rs32.90.

A Sri Lankan business delegation visited Thailand to explore partnerships and investments ahead of the Sri Lanka–Thailand free trade agreement taking effect in January 2025, focusing on tourism, healthcare, agriculture, logistics and food & beverage sectors.

Colombo market closed marginally higher as the ASPI rose 57 points to 12,357 on turnover of Rs.2.3bn and a net foreign inflow of Rs.118.1m. Banking-led buying (35% turnover) and gains in Commercial Bank, Sampath Bank, NDB and Central Finance drove the session, with Hayleys and Hemas also up.

Colombo Stock Exchange closed higher: All Share Index +0.27% to 12,290 and S&P SL20 +0.17% to 3,613 on turnover of Rs 1.7 billion. Top movers included Dialog, Digital Mobility, Dipped Products, Maskeliya and Hemas, with net foreign outflow of Rs 317 million and mixed foreign buying/selling across counters.

Colombo Stock Exchange closed down, the All Share Index fell 0.16% to 12,152 with turnover Rs 2.1bn and a net foreign outflow of Rs 339m; top foreign buying included Commercial Bank, Sampath Bank, ACL Cables, Melstacorp and Elpitiya Plantations, and Agarapatana Plantations suspended trading after announcing a Rs1 dividend.

The Excise Department has called on liquor manufacturers to pay Rs. 1.8 billion of unpaid excise taxes by 30 November, warning legal action for non-compliance. The department has collected Rs. 162 billion of its Rs. 323 billion target so far.

Distilleries Company of Sri Lanka appointed Ashoka Goonesekere as an Independent Non-Executive Director. He brings over 36 years of banking experience and holds or has held board and senior finance/risk roles at Pan Asia Banking (PABC.N0000), PMF Finance (PMB.N0000), Hatton National Bank (HNB.N0000) and DFCC Bank (DFCC.N0000).

Colombo Stock Exchange closed lower: All Share Index down 0.23% to 10,775 and S&P SL20 down 0.46% to 3,021, turnover 449 million and net foreign outflow of 43.06 million.

Distilleries Company of Sri Lanka (DCSL) said excise duty hikes to Rs6,840 per absolute proof litre and other taxes have raised legal alcohol prices ~58%, reduced its sales and are pushing consumers toward illicit kasippu. The company warned the wider taxation gap is expanding the illicit market, harming legal producers.

Colombo Bourse rose for a fifth straight session as the ASPI gained 1% to close at 11,531 (S&P SL20 +1.3%), with banking and food & beverage stocks led by HNB, SAMP, DFCC, MELS and LMF driving the rally amid Rs.776m turnover.