Sri Lanka Ceylon Cold Stores Sept net up 49-pct

ECONOMYNEXT – Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings, which owns the Elephant House beverage and ice cream brands, said September 2016 quarter net profit rose 49% to just over a billion rupees from a year ago.

Sales grew 33% to Rs10.9 billion during the quarter, interim accounts filed with the stock exchange showed.

Net finance income more than doubled to Rs59 million.

Earnings per share of Ceylon Cold Stores rose to Rs11.05 in the September 2016 quarter from Rs7.43 a year ago.

The bulk of the profits came from the firm’s manufacturing sector although profits from the retail segment, which generates the bulk of sales, grew at a faster pace.

In May this year, Ceylon Cold Stores announced it started a Rs3billion factory to expand capacity.
(COLOMBO, October 26, 2016)

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