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Sri Lankan retailer ODEL March net profit Rs18mn

COLOMBO (EconomyNext) – Sri Lankan retailer ODEL Plc reported a net profit of 18 million rupees in the March 2015 quarter compared with a loss of three million rupees a year ago.

Sales of the firm, which is controlled by Softlogic Plc, were virtually stagnant at 1.12 billion rupees. It reported earnings per share of seven cents ffor the quarter.

For the financial year ending 31 March 2015, ODEL’s EPS were 59 cents with net profit up 16 percent to 162 million rupees from the year before, a stock exchange filing said.

ODEL’s annual sales rose almost six percent to 4.86 billion rupees from a year ago.

The accounts showed ODEL’s share freefloat had dropped to 6.6 percent at 31 March 2015, with a public holding of only 5,968 shares, from 7.98 percent year ago.


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