Sri Lanka’s Aitken Spence Sept net down 17.2-pct
Monday November 19, 2018 10:29
ECONOMYNEXT- Sri Lanka’s diversified Aitken Spence group said its net profits for the September quarter fell 17.2 percent from a year earlier to 483.6 million rupees, with continued losses in the tourism segment.
Earnings per share for the quarter were 1.19 rupees.
For the 6 months to September, earnings per share were 1.71 rupees on net profits which fell 26 percent from a year earlier to 694.3 million rupees.
The firm’s share last traded at 46 rupees.
Revenue for the September quarter grew 1 percent from a year earlier to 12.4 billion rupees. Raw materials and consumables costs fell 18.2 percent to 2.4 billion rupees.
Other direct operating expenses grew 18.3 percent to 4.3 billion rupees.
In the 6 months to September, losses from tourism increased to 632.5 million rupees from 38 million rupees a year earlier despite sales growing 8.4 percent to 12.1 billion rupees
Maritime and logistics sector profits grew 24.9 percent to 711.2 million rupees on revenue which grew 10.2 percent to 5.6 billion rupees.
Profits from the strategic investments segment, which mainly consists of power generation, fell 6 percent to 650 million rupees on revenue which fell 25.4 percent to 7.4 billion rupees. (Colombo/Nov19/2018)