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Sri Lanka’s Kelani Valley Plantations March quarter net down 45-pct

ECONOMYNEXT – Sri Lankan regional plantation company Kelani Valley Plantations said net profit fell 45% to Rs151 million in the March 2018 quarter from a year ago but it managed to end the year with a profit compared to a loss the previous year.

Sales rose 7% to Rs 2.3 billion during the period, according to interim accounts filed with the stock exchange.

The firm, part of the Hayleys group, had earnings per share of Rs4.44 in the March 2018 quarter. The share was last traded at Rs79.50.

EPS for the full year was Rs4.56 compared with a loss per share of 55 cents the previous year.

Kelani Valley Plantations accounts showed that during the year gross profits in the tea business more than doubled to Rs882 million while profits from rubber stayed flat at Rs176 million.
(COLOMBO, May 11, 2018)

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