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Sri Lanka Renuka Holdings December net profit up sharply to Rs135mn

ECONOMYNEXT – Sri Lanka’s Renuka Holdings said December 2016 quarter net profit shot up 659% to Rs135 million from a year ago.

Group sales rose 12.7% to Rs2.4 billion over the period, according to interim accounts filed with the stock exchange.
Earnings per share for the quarter were Rs1.33. the company shares were last traded at Rs21 in Thursday afternoon trade.

Renuka Holdings EPS for the nine months ending December 2016 were Rs7.15 with net profit up 242% to Rs728 million and sales up 6% to Rs6.3 billion.

The accounts showed the group’s agribusiness sales and profits were lower while fast moving consumer goods sales were higher but profits down.

In a note accompanying the accounts Executive Director Shamindra Rajiyah said the group’s Property Sector reported a net profit of Rs510 million for the period ended 31st December 2016 which includes the revaluation of investment property of Rs426 million.
(COLOMBO, Feb 09 2017)

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