Sri Lanka’s Tokyo Cement net up 24-pct in March
ECONOMYNEXT – Profits at Tokyo Cement Plc, which operates grinding plants in Sri Lanka, grew 24 percent to Rs691 million in the March 2016 quarter from a year earlier, helped by revenue and margin growth.
The group reported earnigns of Rs2.03 per share. In the year to March, it reported earnings of Rs5.73 on total profits of Rs1.92 billion, which were up 14 percent.
In the March quarter, revenues grew 8 percent to Rs8.2 billion, cost of sales grew at a slower 4 percent to Rs6.1 billion and gross profits grew 23 percent to Rs2.0 billion.
Tokyo Cement imports clinker to make cement at grinding plants in the country and re-sells imported raw cement.
Global commodity and energy prices have fallen over the past year as the US dollar strengthened with tighter US policy, but the rupee has also depreciated following money printing and a rate cut by the Central Bank, reducing some of the benefits of external inflationary conditions. (Colombo/June01/2016)