Sri Lanka’s Hunas Falls soars amid take-over offer

ECONOMYNEXT – Sri Lanka’s Hunas Falls Hotels Plc, a hotel in Sri Lanka’s knuckles mountain range has soared 19.3 percent amid a take-over offer.

Carbotels (Pvt) Ltd, and Amaya Leisure Plc has which own 66.2 percent of the firm has received a take-over-offer for their entire holding subject to due diligence, Hunas Falls said in a stock exchange filing.
No price was mentioned.

On Friday the stock gained 21.40 rupees to close at 131.80 rupees.

In the six months to September 2018, the hotel earned revenues of 68.7 million rupees up 4 percent from a year earlier and lost 1.3 million rupees.

But a profit of 4.8 million rupees, down from 6.5 million rupees was posted for the quarter.
The hotel is located off Kandy. (Colombo/Jan07/2018)

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