Sun, 01 August 2010  06:23:08
Booze Profits
03 Sep, 2007 10:26:25
Sri Lanka Distilleries June quarter profits up by half to Rs 1.4 Bn
September 03, 2007 (LBO) - Profits of the Distilleries Company group, which includes Sri Lanka Insurance Corporation, increased by 54 percent to 1.4 billion rupees in the quarter ended June 2007.
Group revenue grew by 28 percent to 14.7 billion rupees from 11.5 billion over the same period.

At company level, Distilleries, the largest alcohol maker in the island, saw revenues growth of 8.3 percent to 7.3 billion rupees and a 5.9 percent growth in profits to 522.6 million.

Group transport costs have doubled to 441 million rupees from 221 million as a result of the fuel price hikes this year.

The group operating expenses increased by more than 2,000 percent, to 226.7 million rupees from 9.8 million in the June quarter.

Gross assets of the group grew to 76.7 billion rupees in June 2007 from 64 billion in 2006.

Billionaire businessman Harry Jayawardene and his Stassen Group which controls Distilleries, has diversified interests in banking, financial services, shipping, hotels, power, telecommunications, plantations, healthcare, liquor and food and beverages.

Distilleries controls over 80 percent of the island's hard liquor market and a third of the insurance market through its stake in Sri Lanka Insurance Corp.
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