Lighthouse Hotel Sri Lanka profits up 46-pct in March 2014 quarter

Apr 30, 2014 (LBO) – Sri Lanka’s The Lighthouse Hotel Plc, said profits in the March 2014 quarter surged 46 percent to 83 million rupees from a year earlier, with revenues also up. Administrative expenses were up 24 percent to 111.8 million rupees.

Lighthouse Hotel is part of Sri Lanka’s Jetwing group. The firm reported earnings of 1.81 rupees per share for the quarter. In the year to March 2014 it reported earnings of 2.66 rupees on total profits of 122 million rupees, up 9 percent from a year earlier.

Lighthouse Hotel closed at 53.20 down 2.90 rupees Wednesday.

In the March quarter revenues rose 26 percent to 250.3 million rupees from a year earlier and cost of sales fell 1 percent to 39.7 million rupees, helping expand gross profits 32 pecent to 210 million rupees.