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Sri Lanka Equity Forum » Stock Market Talk » SIRA loss increased by 270℅

SIRA loss increased by 270℅

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1 SIRA loss increased by 270℅ on Tue Aug 15, 2017 5:38 pm

Teller

avatar
Moderator
Market giant Sierra cables reported heavy loss compare to last quarter same period which may effected higher production cost as well as sales drop. ACL is yet to be delivered the report most probably profit decline can be expected.
Now we can say MACRO economic factors are switch on negatively whole over industries in Sri lanka

2 Re: SIRA loss increased by 270℅ on Tue Aug 15, 2017 9:09 pm

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
ACL too has reported a loss of Rs. 5 Mn compared to Rs. 350 Mn profit in same quarter last year. Losses can be as a result of escalating raw material costs in the
London market and that is understandable

But what is worrying is both Group and Company top lines are flat. Group TO increased marginally by 1% and Company TO dropped by 1%.

Their 2016/17 Annual Report says higher interst rates are affecting consumer demand for their products

3 Re: SIRA loss increased by 270℅ on Tue Aug 15, 2017 11:12 pm

Teller

avatar
Moderator
Yes Mr.wijesinge, interest rate hike has been effected negatively.

4 Re: SIRA loss increased by 270℅ on Wed Aug 16, 2017 2:15 am

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Copper is over $6400.00 at the moment. Highest prices since 2014.
Its not Sri Lankan government's fault.

5 Re: SIRA loss increased by 270℅ on Fri Aug 18, 2017 7:41 am

buddikasmart

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:Market giant Sierra cables reported heavy loss compare to last quarter same period which may effected higher production cost as well as sales drop. ACL is yet to be delivered the report most probably profit decline can be expected.
Now we can say MACRO economic factors are switch on negatively whole over industries in Sri lanka
It should be a accounting gilmart...sira share hugely manipulated since 2014 and bullers satisfied their target... Now share price should come down to settle... onthe other hand dont believe interim report...

6 Re: SIRA loss increased by 270℅ on Fri Aug 18, 2017 1:34 pm

gdid


Equity Analytic
Equity Analytic
There is no revenue drop but yes COS is increased & also most important factor is finance cost it increased by 15Mn so increase in cost of sales reduced profit margin & increased finance cost lead to a loss

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