Sri Lanka’s Ceylon Cold Stores net down 30-pct in March

ECONOMYNEXT – Profits at Sri Lanka’s Ceylon Cold Stores Plc, a retailing and consumer goods company fell 30 percent from a year earlier to 577 million rupees in the March 2018 quarter, interim accounts showed.

The firm reported earnings of 6.08 rupee per share for the quarter. In the year to March it reported earnings of 27.01 rupees per share on total profits of 2.57 billion rupees, which were down 28 percent.

In the March quarter gross profit fell 11 percent to 1.42 billion rupees, with revenues rising 20 percent to 12.28 billion rupees, but cost of sales growing at a faster 25 percent to 11.86 billion rupees.

In the manufacturing area revenues rose to 3.5 billion rupees from 3.32 billion rupees, and profits fell to 1.038 million rupees, down from 1.12 billion a year earlier.

In retailing, revenue grew to 9.6 billion rupees from 7.75 billon but profits fell to 270 million rupees from 404 million rupees.

Net finance income fell 69 percent to 14 million rupees. There was a fair value gain of 21 million rupees, down from 92 million rupees a year earlier. (Colombo/May31/2018)


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