ECONOMYNEXT – Profits at Distilleries Corporation of Sri Lanka Plc, the island’s largest alcohol producer, grew 11.3 percent to 1.3 billion rupees in the September 2019 quarter from a year earlier, interim accounts showed.
Earnings were 26 cents a share in the quarter.
Distilleries Corporation share closed trading 20 cents down at 18.50 rupees on Tuesday.
In the six months to end September 2019, earnings were 65 cents a share on a profit of 3 billion rupees, up 11.3 percent from a year earlier, financial results filed with the Colombo Stock Exchange showed.
Gross revenues with taxes grew 2.1 percent to 20.3 billion rupees.
Net revenues grew 8 percent to 7.2 billion rupees and cost of sales grew 10.9 percent to 4.64 billion rupees, with gross profits up 3.1 percent to 2.56 billion rupees.
Other operating income fell 12.2 percent to 25.9 million rupees.
Distribution expenses fell 17.1 percent to 126 million rupees and administrative costs fell 23.9 percent to 217.6 million rupees.
Net finance income had fallen 12.5 percent to 32 million rupees while short term borrowings increased to 3.6 billion rupees at end September 2019, from 2.1 billion a year earlier.