‘s Bogala Graphite returns to profit

May 18, 2013 (LBO) – Sri Lanka’s Bogala Graphite Plc, a unit of Germany’s AMG Mining AG, returned to a profit of 15.
6 million rupees in the March 2013 quarter despite a fall in revenues as forex losses last year reversed.
The foreign exchange gain for the current period from a Euro loan was 8.5 million rupees compared to a loss of 32.
9 million rupees a year earlier, the company said.

The firm reported earnings of 33 cents per share.

Revenues fell 17 percent to 118.
0 million rupees from a year earlier at Bogala Graphite group and expenses rose 8.0 percent to 80 million rupees, but the firm still grew gross profits 22 percent to 38.
2 million rupees.

Administrative expenses which include unrealized gains and losses in forex denominated loans fell to 5.
6 million rupees in the March 2013 quarter, from 42 million rupees last year.