Sri Lanka’s Distilleries March net up 10-pct with beverage revenues


May 31, 2016 (LBO) – Net profits at Sri Lanka’s Distilleries Group, the island’s largest alcohol maker, rose 10 percent to 1.35 billion rupees in the March 2016 quarter from a year earlier, interim accounts showed.

In the March quarter, revenues rose 33 percent to 25.61 billion rupees and sales related costs rose 28 percent to 6.21 billion rupees making gross profits of 3.17 billion rupees up 30 percent.

The group reported earnings of 4.53 rupees per share for the quarter against 4.12 rupees reported a year ago.

For the twelve months, the group reported earnings of 21.16 rupees per share on profits of 6.34 billion rupees, which fell from 6.55 billion rupees a year earlier.

In the segmental analysis, profits from beverages segment rose to 8.66 billion rupees in the twelve months but losses of plantations sector rose to 430 million rupees.

Financial services sector has recorded a profit of 252 million rupees but losses of telecom sector rose to 587 million rupees.

Diversified segment rose to 626 million rupees in the financial year.

By the end of 2016 financial year there were 10,531 public shareholders holding 42.34 percent of company shares.