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Sri Lanka Chevron unit December quarter net down 5-pct

EconomyNext – Chevron Lubricants Lanka said December 2014 quarter net profit fell five percent to 558 million rupees from a year ago with distribution costs rising sharply while finance income fell.

Earnings per share for the quarter were 4.65 rupees, interim results filed with the stock exchange showed.

For the financial year ended 31st December 2014, EPS was 22.89 rupees with net profit up eight percent to 2.7 billion rupees.

In the December 2014 sales fell three percent to 2.7 billion rupees while distribution costs rose sharply and finance income fell 41 percent to 39 million rupees.

The Sri Lanka unit of Chevron Lubricants commissioned a new, bigger blending plant in December 2014 saying it increases potential to benefit from the island’s post-war growth and for exports.


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