Sri Lanka Access Engineering March net almost stagnant
ECONOMYNEXT – Sri Lanka’s Access Engineering group’s March 2016 quarter net profit went up 1.5% to 642 million rupees from a year ago with most of the growth coming from the core construction business and also the Sathosa Motors subsidiary.
Sales fell 2.4% to 4.56 billion rupees during the period, according to interim results filed with the stock exchange.
March quarter earnings per share were 64 cents.
EPS in the year ending 31 March 2016 was 2.47 rupees with net profit up 5.3% to 2.5 billion rupees from the year before while sales rose 6.9% to 17.7 billion rupees.
Stock market analysts said Norges Bank, Norway’s central bank which manages the government pension fund, one of the largest sovereign wealth funds, had increased its stake in Access to 21.4 million shares or a 2.1% stake.
(COLOMBO, May 31 2016)