Financial services firms lead in early release of 2011 Annual Reports

Select companies in the financial services sector have led the way with the early release of 2011 annual reports, with some of the multinational firms in other sectors with a December-ending financial year lagging behind.

Aviva NDB Insurance, HNB, Seylan Bank, Pan Asia Bank, HNB Assurance and Asian Alliance are some of the first to release their 2011 annual reports.

Multinational companies such as Ceylon Tobacco, Nestle, Chevron, Singer and Dialog also having December financial year-ends are however yet to release despite straightforward operations as against the compliance-ridden financial services sector.

They were among the first to release interim/audited results for 2011. The first in the plantation industry to release the 2011 annual report is Talawakelle Tea Estate Plc.

The first-ever listed firm with a December-ending financial year to release its 2011 annual report was Property Development Plc (PDL), a subsidiary of Bank of Ceylon, on 24 February.

By end last week around 210 companies had released their December 2011 quarter ended results as well.