Sri Lanka’s Udapussellawa Plantations back in profit

ECONOMYNEXT – Sri Lanka’s Udapussellawa Plantations returned to profit in the June 2017 quarter with earnings of 103 million rupees compared with a loss of 22 million rupees the year before as tea prices improved.

Sales of the firm, part of James Finlay Plantation Holdings (Lanka) Limited, rose 46 percent to 724 million rupees.

Earnings per share were 5.29 rupees for the quarter. Udapussellawa Plantations shares last traded at 32.40 rupees.

EPS in the six months to June 2017 was 10 rupees, with net profit of 194 million rupees against a loss the previous year, and sales up 40 percent to 1.3 billion rupees.

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