Sri Lanka MTD Walkers lose Rs200mn in March

ECONOMYNEXT – MTD Walkers, a Sri Lanka based construction and engineering group ost 200 million rupees in the March 2018 quarter, in a reversal from a 128 million profits a year earlier, with full year losses reaching 2.2 billion rupees, interim accounts showed.

The loss per share was Rs1.20 in the March quarter and Rs13.34 for the full year. The company’s share was last trading at Rs15.10, down 70 cents or 4.4% Monday.

In the March quarter it reported a gross profit of 266 million rupees, down 73 percent from a year earlier, on revenues of 4.8 billion rupees, which rose 21 percent, but cost of sales rose at a faster 51 percent to 4.6 billion rupees.

Finance cost rose 48 percent to 902 million rupees.

In the year to March the firm reported finance costs of 2.6 billion rupees. (Colombo/June04/2018)

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