Sri Lankan dairy firm to expand capacity, profits up

Feb 17, 2013 (LBO) – Lanka Milk Foods Plc a unit of Sri Lanka’s Distilleries group said it will spend 800 million rupees to expand liquid milk processing and packing capacity at a subsidiary. Lanka Milk Foods’ revenues rose 9.5 percent to 1.41 billion rupees in the December 2013 quarter, expenses rose at a slower 2.6 percent to 1.13 billion rupees allowing gross profits to grow 50 percent to 281 million rupees.

The firm said in a stock exchange filing that capacity will be increased at Lanka Dairies Ltd.

In the December 2012 the firm group profits surged 279 percent to 188 million rupees, from a year earlier, mostly on higher dividend income.

The group reported earnings of 4.71 rupees per share. For the nine months to December it reported earnings of 7.87 rupees on profits 314 million rupees which rose 42 percent from a year earlier.