Nestlé Sri Lanka unit June net up 33-pct

ECONOMYNEXT – Nestlé Lanka, the Sri Lankan unit of the Swiss food multinational, said June 2015 quarter net profit rose 33 percent to 1.3 billion rupees from a year ago.

Sales of the firm rose 11.2 percent to nine billion rupees over the period, a stock exchange filing said.

Earnings per share rose to 24.18 rupees in the June 2015 quarter from 18.16 rupees the year before.

Other operating income fell sharply partly because of foreign exchange losses.

Food companies have seen profit margins expand on the back of the commodity price collapse. (Colombo/August 11 2015)

 

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