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Sri Lanka’s Distilleries group net up 9.8-pct

ECONOMYNEXT – Profits at Distilleries Company of Sri Lanka which has interests in alcohol, insurance, plantations and telecoms rose 9.8 percent to 1.358 billion rupees in the March 2016 quarter from a year earlier, helped by the beverage business.

The group reported earnings of 4.53 rupees per share for the quarter. In the year to March profits of 21.16 rupees per share on total profits of 5.6 billion rupees, which were down 32 percent.

At the core alcohol firm net revenues (without taxes) went up 40 percent to 6.2 billion rupees, cost went up at a faster 57 percent to 3.3 billion rupees, but gross profits also rose 24 percent to 2.8 billion rupees.

At group level, revenues went up 28 percent to 9.3 billion rupees, cost and claims went up 27 percent to 6.2 billion rupees, and gross profits rose 30 percent to 3.1 billion rupees.

For the full year, beverages made pre-tax profits of 8.6 billion rupees, up from 8.3 billion, plantations lost 430 million rupees, worsening from 106 million rupees.

Telecoms lost 587 million rupees, a little down from 691 million a year earlier and financial services made profits of 252 million rupees, up from 187 million and diversified made profits of 626 million up from 549 million. (Colombo/May31/2016)

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