Sri Lanka’s Ceylon Cold Stores profits up 45-pct in Sept quarter

ECONOMYNEXT – Profits at Sri Lanka’s Ceylon Cold Stores Plc, a consumer goods and retail firm, grew 45 percent to 278 million rupees in the September 2019 quarter from a year ago, interim accounts showed.

The firm, part of the John Keells Holdings conglomerate, reported earnings of 2.92 rupees a share for the quarter. Sales grew 13 percent to 16.3 billion rupees

Ceylon Cold Stores (CCS) makes fizzy drinks, juices and ice creams under the popular Elephant House and other brands, and operates the Keells supermarket chain.

Quarterly profits came mainly from manufacturing which grew eight percent to 276 million rupees from the previous year with sales stagnant at 3.6 billion rupees.

Ceylon Cold Stores retail business returned to profit with earnings of three million rupees in the quarter compared with a loss of 73 million rupees the year before with sales up 17.4 percent to 12.8 billion rupees.

In the six months to September 2019, CCS earnings per share were 7.26 rupees with net profit up 60 percent to 690 million rupees while sales grew 16 percent to 33 billion rupees.

The stock was trading at 781 rupees around noon Wednesday, down 13.90 rupees or 1.8 percent.
(COLOMBO, 30 October 2019)

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