Sri Lanka beer
Sri Lanka’s Finance Ministry says there is no truth that a beer manufacturing company has been given concessions for imports which would result in a revenue loss of 6 billion rupees to the state.
Fitch Ratings has affirmed Lion Brewery (Ceylon) PLC’S (Lion) National Long-term Rating of ‘Aa-(lka)’ with a Stable Outlook and said the firm is well-placed to recover from the recent floods and expects its financial profile to remain consistent with its … Continue reading
Sri Lanka’s Ceylon Beverage holdings, brewer for Lion and Carlsberg in Sri Lanka, lost Rs501 million in the June quarter as the floods disrupted production, interim accounts filed with the Colombo Stock Exchange showed.
Sri Lanka will allow Lion Brewery franchise holder or Carlsberg in the country and Lion Beer imports at lower duty, following flood damage to its production facilities in Colombo, a report said.
Fitch Ratings has affirmed Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.
Sri Lanka’s largest beer maker who has seen sales fall as taxes on soft alcohol were raised in quick succession late last year says the current tax policy which is making hard alcohol more attractive to consumers is ‘shocking’.