Feb 01, 2013 (LBO) - Sri Lanka's Haycarb group, an activated carbon producer which also has plants in Thailand and Indonesia said net profits grew 39 percent to 196 million US dollars in the December 2012 quarter from a year earlier, though revenues were flat.
The group reported earnings of 6.62 rupees for the quarter. For the nine months to December the group reported earnings of 20.84 rupees on earnings of 619 million rupees up 52 percent from a year earlier.
Haycarb's revenues were flat at 2.1 billion rupees, but cost of sales fell 6 percent to 1.55 billion rupees, allowing gross margins to grow 22 percent to 576 million rupees.
Net finance costs were down to 15.7 million rupees from 44 million rupees a year earlier.