Sri Lanka Royal Ceramics March net profit down 6.3-pct
ECONOMYNEXT – Sri Lankan tiles manufacturer Royal Ceramics said March 2016 net group profit fell 6.3% to 799 million rupees from a year ago.
rch 2016 net group profit fell 6.3% to 799 million rupees from a year ago.
Sales rose 8.4% to 7.5 billion rupees, interim accounts filed with the stock exchange showed.
Earnings per share for the quarter were 7.21 rupees. The accounts showed a sharp 1,273% rise in tax to 704 million rupees.
In the year ended 31 March 2016, EPS was 26.49 rupees with net profit up 37% to 2.9 billion rupees while sales rose 11% to 27 billion rupees. Annual tax costs rose 180% to 1.6 billion rupees.
The accounts showed the group’s tile business profits went up sharply along with aluminium unit earnings while the sanitaryware subsidiary profits fell.
The Royal Ceramics group’s paints and plantations businesses made losses while packaging business was stagnant.
(COLOMBO, June 03 2016)