ECONOMYNEXT – Sri Lanka’s Keells Food Products, a processed meat firm which sells under Krest and Elephant House brands, said profit for the December 2017 quarter grew 13 percent from a year earlier to 87.2 million rupees.
The group reported earnings of 3.42 rupees per share for the quarter, in interim accounts filed with the stock exchange.
In the nine months to December earning were 6.94 rupees per share on a profit of 177 million rupees, down 22 percent from a year ago. The share was traded 130 rupees on the Colombo Stock Exchange in intra-day trading on Monday.
Gross revenue increased nine percent to 864.5 million rupees and cost of sales grew seven percent to 599.4 million rupees, helping expand profit 12 percent to 265 million rupees.
Profits from manufacturing grew 14 percent to 114 million rupees and trading increased 13.8 percent to 10.7 million rupees.
Selling and distribution expenses grew 14 percent to 80.7 million rupees and administration costs grew six percent to 39.3 million rupees.
Net finance income grew 44.5 percent to 1.7 million rupees.
The group is a unit of John Keells Holdings. (COLOMBO, January 22, 2018)