Sri Lanka Sunshine Holdings group Sept net up 8-pct
ECONOMYNEXT – Sri Lanka’s Sunshine Holdings group said September 2015 quarter net profit grew eight percent to 171 million rupees from a year ago with improved healthcare and fast moving consumer goods business making up for a downturn in plantations.
Group sales grew four percent to 4.3 billion rupees, interim accounts filed with the stock exchange showed.
Earnings per share for the September quarter rose to 1.27 rupees from 1.18 rupees the year before.
For the six months ending September 2015, EPS rose to 2.47 rupees from 2.28 rupees the previous year with sales up five percent to 8.5 billion rupees.
Sunshine Holdings group Managing Director Vish Govindasamy said growth in group revenue for the six months ending September 2015 was driven by the healthcare and FMCG sectors, which grew 17.3 percent and 19.9 percent.
But sales from its plantations business fell 11.6 percent, Govindasamy said.
Govindasamy said higher group earnings before interest and tax and EBIT margin helped Sunshine’s healthcare and FMCG sectors grow, in spite of margin contraction in the agriculture business.
The group controls Watawala Plantations whose tea business was hit by low tea prices at the Colombo tea auction.
(Colombo/November 03 2015)