Sri Lanka’s Balangdoa Plantations reports Rs75mn loss


Aug 10, 2015 (LBO) – Sri Lanka’s Balangoda Plantations, a unit of listed Distilleries Corporation, made a loss of 75 million rupees in the quarter to June, compared with the 57 million rupee profit made in the same quarter in 2014, hit by global price falls in rubber and tea, interim accounts showed.

The firm reported a loss per share of 3.20 rupees in the June 2015 quarter compared with earnings 2.42 rupees in the last year.

Revenues during the June quarter fell 18.6 percent to 731 million rupees and cost of sales of the firm fell marginally to 811 million rupees from 860 million rupees in the same period. This sent gross margins to a loss of 80 million rupees.

The group reported a loss of 149 million rupees in the Tea segment for the 6 months ended June 2015 compared to the profit of 103 million rupees in the June 2014 quarter while the rubber segment made a loss of 33 million rupees in June 2015 compared to the 35 million rupees loss made in the last year.