Sri Lanka’s Sunshine Holdings Sept group net up 8-pct

Nov 03, 2015 (LBO) – Sri Lanka’s Sunshine Holdings group said September 2015 quarter net profit grew eight percent to 171 million rupees from a year ago backed by gains made in healthcare and fast moving consumer goods business.

“Growth in group revenue for the six months ending September 2015 was driven by the healthcare and FMCG sectors, which grew 17.3 percent and 19.9 percent,” said Vish Govindasamy, Sunshine Holdings group managing director.

However he said sales from plantations business fell 11.6 percent.

“Higher group earnings before interest and tax and EBIT margin helped Sunshine’s healthcare and FMCG sectors grow, in spite of margin contraction in the agriculture business.”

According to interim accounts filed with the stock exchange the group’s sales grew four percent to 4.3 billion rupees while earnings per share for the September quarter rose to 1.27 rupees from 1.18 rupees in 2014.

For the six months ending September 2015, sales was up five percent to 8.5 billion rupees from the previous year.