Sri Lanka’s Alumex March quarter net up 25-pct

ECONOMYNEXT – Alumex, the aluminium extrusions subsidiary of Sri Lanka’s Hayleys group, said net profit rose 25 percent to 263 million rupees in the March 2017 quarter from a year ago.

Sales increased 27 percent to 1.5 billion rupees, according interim accounts filed with the stock exchange, which also showed much higher tax costs.

Quarterly earnings per share were 88 cents. Alumex shares last traded at 24.10 rupees.

Alumex Group has a dominant market share and has increased capacity to meet growing demand from the booming construction sector.

EPS for the financial year ending 31 March 2017 were 2.52 rupees, with annual net profit up 28 percent to 753 million rupees and sales growing 18 percent to 4.7 billion rupees. (COLOMBO, May 23, 2017)

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