Sri Lanka’s Hemas Holdings March net down 17.6-pct

June 11, 2015 (LBO) – Sri Lanka’s Hemas Holdings which has interests in consumer goods, power and leisure has posted a profit of 771 million rupees in the March 2015 quarter, down 17.6 percent from a year earlier, interim accounts showed.

The group reported earnings of 1.50 rupees per share for the March quarter against a 1.82 rupees per share reported the same period last year.

The stock closed at 10 cents higher at 84.10 rupees on Wednesday. Full year earnings were 3.74 rupees per share against 4.68 rupees per share reported last year.

In the year to March the group has posted a profit of 1.92 billion rupees, down 20.0 percent from a year earlier.

March quarter group revenues rose 18.4 percent to 8.85 billion rupees and cost of sales rose at a faster 19.7 percent to 5.97 billion rupees. The group grew gross profit of 15.8 percent to 2.88 billion rupees.

Other operating income dropped sharply to 354 million rupees, from 808 million rupees from a year earlier.

For the fourth quarter of 2015, profits from fast moving consumer goods rose to 255.91 million rupees, from 216.49 million rupees a year earlier.

Its healthcare sector earned profits of 291.71 million rupees in the last quarter of 2015, from 262.42 million rupees the previous year.

Profits from uncategorized segments dropped to 92.36 million rupees, from 586.74 million rupees a year earlier.