Sri Lanka’s Sunshine Holdings net up 36-pct in Dec

ECONOMYNEXT – Sri Lanka’s Sunshine Holdings Plc, said its profit grew 36 percent from a year earlier to 387 million rupees in the December 2020 quarter helped by healthcare consumer and agribusiness sectors.

The group reported earnings of 2.59 rupees for the quarter. In the nine months to December Sunshine reported earnings of 7.30 rupees per share on total profits of 1,091 million rupees which grew 7 percent.

Gross profits rose 25 percent to 2,051 million rupees in the quarter, with revenues up 22 percent to 6.4 billio rupees and cost of sales up 21 percent to 4.39 billion rupees.

Net finance costs fell 18 percent to 66.4 million rupees.

In the nine months to December healthcare sector revenues rose 1 percent to 9.1 billon rupees and made after tax profits of 593 million rupees, Group Managing Director Vish Govindasamy said.

Consumer goods revenues rose 17.3 percent to 4.9 billion rupees following the acquisition of Daintee Limited, a confectionary firm. After tax profits rose 3.3 percent to 303 million rupees.

Agribusiness after tax profits had risen by 486 millon to 1,264 million rupees heled by palm oil and dairy.

With better rain, hydro power profts had rise to 108 million rupees from 29 million rupees. (Colombo/Feb06/2021)

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