Swisstek profit +25% in 3 months to June

Swisstek

July 27, 2015 (LBO) – Sri Lankan based Swisstek (Ceylon)’s group net profit showed a 25 percent increase to 28.9 million rupees for the three months ended June 2015, interim report said.

The manufacturer of tile grout, tile mortar and decorative pebbles said revenue rose 44 percent to 509 million rupees from 354 million rupees in the same quarter last year.

Swisstek owns a subsidiary, Swisstek Aluminium Ltd, which accounted for 82 percent of group turnover last year.

In its annual report, the company said economic growth of the country had a positive effect on the construction industy which had enhanced its performance.

Swisstek posted a net profit of 251 million rupees for the year to March 2015.

Earnings per share rose to 0.98 in the first quarter, up from 0.77 in the same quarter last year. The share price closed at 61.20 rupees on Friday, up five percent for the week.

Swisstek, formerly known as Parquet (Ceylon), is a member of the Lanka Walltiles group.