Gas Gains

Nov 10, 2013 (LBO) – Profits at Sri Lanka’s Laugfs Gas rose 50 percent to 619 million rupees in the September 2013 quarter from a year earlier, amid easing commodity prices, interim accounts showed.

Property and leisure units were in losses. The group reported earnings of 1.60 rupees per share. For the 6-months to September 2013 the group reported earnings of 2.30 rupees per share on total profits of 890 million rupees, up 98 percent.

Group revenues rose 17 percent to 3.0 billion rupees and cost of sales rose at slower 2 percent to 2.0 billion rupees expanding gross profits 68 percent to 973 million rupees.

The firm said operating profits from of its liquefied petroleum business rose to 639 million rupees in the September 2013 quarter from 521 million rupees a year earlier. Other services brought 109 million rupees up from 87 million rupees.