Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය

Latest topics

» Tea prices up and up.Plantation shares down and down!
by fortuneteller Today at 1:16 pm

» For Miss Sangeetha
by Neluka Karannagoda Today at 12:09 pm

» coco.x share
by lakmal87 Fri Dec 15, 2017 10:45 pm

» නොමිළේම ඩොලර් (free $ 5 ) tokens
by cseguide Fri Dec 15, 2017 7:58 pm

» S&P upgrades DFCC Bank’s rating outlook from Negative to Stable
by TraderCSE Fri Dec 15, 2017 9:23 am

» CFVF will HIT. 40 BY Next. Thursday
by Yahapalanaya Thu Dec 14, 2017 10:50 pm

» Moody’s affirms ratings of three Sri Lankan banks; maintains negative outlook
by Miss-Sangeetha Thu Dec 14, 2017 8:39 pm

» best stocks to buy now
by Ryan Hudson Wed Dec 13, 2017 9:23 pm

» Current situation of the Adam group of companies
by anges Wed Dec 13, 2017 5:36 pm

» Avoid investing in Abans Group company shares
by fortuneteller Wed Dec 13, 2017 9:11 am

» People's Leasing Company
by prasa2004 Tue Dec 12, 2017 6:51 pm

by prasa2004 Tue Dec 12, 2017 5:43 pm

» Beware of banking stocks
by prasa2004 Tue Dec 12, 2017 5:40 pm

by Agape Tue Dec 12, 2017 2:49 pm

» Lanka Cement
by sureshot Tue Dec 12, 2017 11:09 am

» Roshan Egodage's Money Grabbing
by Investor1994 Mon Dec 11, 2017 7:10 pm

by Gambino7 Mon Dec 11, 2017 12:13 pm

» CFT share එක මොනව හරි දෙයක් වෙනව වාගෙ.
by sameboy Sun Dec 10, 2017 6:43 pm

by Teller Fri Dec 08, 2017 10:52 pm

» Sri Lanka Exports up 12.9-pct in Sept
by Teller Fri Dec 08, 2017 10:38 am

by Teller Fri Dec 08, 2017 10:30 am

» LLMP - New Strategic Marketing >>> Boooom
by Teller Fri Dec 08, 2017 10:27 am

» Why LLUB.N0000 going down ?
by Teller Fri Dec 08, 2017 10:20 am

» LDEV rights
by Teller Fri Dec 08, 2017 10:16 am

» SAMP Rights Issue
by niru Thu Dec 07, 2017 8:04 pm


You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » To beat the heat Chevron seeks better strategies

To beat the heat Chevron seeks better strategies

View previous topic View next topic Go down  Message [Page 1 of 1]

DS Wijesinghe

Manager - Equity Analytics
Manager - Equity Analytics
Chevron obviously doesn't seem to be pleased with the current state of the country's macro economic conditions

Business Times
Chevron Lubricants Lanka PLC (Chevron) which has been literally ‘under the weather’ owing to the choppy climate during the past six months, says it will get better at executing better strategies including a strong focus on the exports to beat the heat.

“The drought has been affecting the North Central Province (NCP) from the last quarter and spilling onto this quarter. We had a difficult time with the floods in the first quarter. With all this we aim to increase productivity and be better at our strategy execution,” Kishu Gomes, Managing Director Chevron told the Business Times. He added that the company will focus on its export markets more.
The company’s top line declined by 18.5 per cent year on Year (YoY) owing to the crippling weather which saw low demand for lubricants, data showed.

Mr. Gomes said there’s no agriculture happening in the NCP and overall the seasonal pattern has been disrupted by the bad weather which is impacting the company’s bottomlines.

The company’s Q2 gross profit was at Rs. 1.023 billion which is a 21.5 per cent reduction YoY.

Citigroup Global Markets Limited Agency Trading Prop Securities A/C which was the number two shareholder of Chevron with 4,653,040 shares as at March with a 1.94 per cent stake shed its holding to 1,754,570 shares as at June. Now it has 0.73 per cent stake.
The company’s top 20 shareholder list is dominated mainly by financial institutions with only businessman Ravi Thambiayah-related parties and SLIC as local shareholders.

Mr. Gomes added that according to the Public Utilities Commission of Sri Lanka (PUCSL) figures the lube industry has grown only 2 per cent YoY during the past five years. “The global raw material prices will remain where they’re now and are predicted to increase in a few months’ time. But with the challenging macro environment not only our industry, all industries are facing a difficulty,” Mr. Gomes said.

View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum