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Huge blow to SL biz if crisis deepens_我的网站

A |     Colombo, Oct 20 (UNI) The prevailing economic crisis could deal a severe blow to many Sri Lankan business sectors if it deepens or drags for a prolonged period, Fitch Ratings said in remarks published on Thursday.
This is because runaway inflation, elevated interest rates and import restrictions have already pressured their revenues, margins, profits and cash flows, the Daily Mirror quoted Fitch Ratings as saying.
In a brief commentary on the implications the economic crisis would have on Sri Lanka’s listed companies, the rating agency identified consumer goods retail, power generation and home building among the most affected sectors from a prolonged crisis.
While some businesses did not feel the full effects of the crisis as they managed to grow their top and bottom lines and their margins in the second quarter ended in June 2022, Fitch said they would not be able to replicate the same results in the coming quarters as price hikes could come at the cost of further decline in revenues.
The September earnings season, which kicked off this week, would provide analysts and investors the opportunity to assess how these companies representing wider industries have fared on the back of continued rise in costs across the supply chains as well as of their borrowings, it said.
The Sri Lankan economy is projected to be in continuous decline in 2022 and 2023, shedding 9.2 per cent and 4.2 per cent, respectively, according to the World Bank estimates.
“Significant cost inflation affecting demand and profitability, import restrictions disrupting operations and high interest rates are key risks faced by domestic corporations in the next 12-18 months,” Fitch Ratings said.
If these conditions persist in the said time horizon, worsening the economic conditions, Fitch estimates around 50 per cent of its rated issuers to see rating pressure.
UNI MR。    　　锦江在线：上半年净利润同比下降26.25%拟10派0.2元     人民财讯8月24日电，锦江在线(600650)8月24日披露半年报，2026年上半年，公司实现营业收入7.05亿元，同比下降13.24%；归属于上市公司股东的净利润5739.65万元，同比下降26.25%；基本每股收益0.104元。公司拟每10股派发现金红利0.2元(含税)。报告期内，受宏观经济环境及消费市场变化影响，车辆运营及汽车销售业务经营承压，管理层通过完善激励约束机制提升车辆运营效率，搁车率稳步下降，同时顺应行业发展趋势，推动汽车销售业务由传统燃油车向新能源车转型升级，上述业务下滑趋势已得到有效控制，经营质量逐步改善。    。

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