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Sri Lanka’s Ceylon Cold Stores loses Rs349mn on Coronavirus, revenues down 26-pct in June

ECONOMYNEXT – Sri Lanka’s Ceylon Cold Stores Plc, which runs a retail chain and makes fast moving consumer goods, lost 349 million rupees in the June 2020 quarter amid Coronavirus lockdowns, interim accounts showed.

Revenues were down 26 percent to 12.3 billion rupees, cost of sales were down 20 percent to 11.6 billion rupees, and gross profits were sharply down 65 percent to 753 million rupees.

Finance costs rose 12 percent to 495 million rupees.

Pre-tax losses were 498 million rupees for the June quarter, reversing from a 648 million rupee pre-tax profits last year.

Short term borrowings rose to 2.9 billion rupees from 1.54 billion rupees, while bank overdrafts fell to 8.8 billion rupees from 9.8 billion rupees. (Colombo/July24/2020)