Carsons: Slight gains
The Carson Cumberbatch PLC Group had a net profit increase in the fourth quarter ended 31 March 2009 to Rs.3.35 billion from Rs.3.02 billion in 2008. According to the company’s interim report, the Group’s revenue also increased to Rs.16.80 billion for the period under review from Rs..15.24 billion last year. Total Group assets also increased to Rs.30.30 billion from Rs.28.16 billion in 2008. Total equity increased to Rs.19.22 billion from Rs.17.29 billion while the earning per share increased to Rs..20.97 from Rs.17.14.
The business segment statements for the group for the year ended 31 March 2009 show profits in investment holdings and financial services. Losses were made in the real estate, hotels and management services sectors. Profits declined over the previous year in oil palm plantations, beverage and airline sectors.
Singer profits ease
Singer (Sri Lanka) PLC’s net profit for the three months ended 31 March 2009 dropped to Rs.25.9 million from Rs.123 million the corresponding period last year. According to the company’s interim financial statements and a statement by Singer Chairman Hemaka Amarasuriya, Group revenue in the first quarter of 2009 declined by 22.9% to Rs.3.064 billion. “However, in comparison to the third quarter of 2008, when we saw early signs of a declining economy and the fourth quarter of 2008 where negative market trends aggravated further, our current quarter’s revenue remains stable in line with forecast,” he said.
“As we adjust to changing slow market conditions, I am pleased to report that we have been able to benefit from global trends in cost reduction for merchandise to improve gross margins to 39.6% while our single biggest expense line, selling and administrative cost has been successfully pruned down by Rs.108 million or 12.5% by systematic programme management,” Mr. Amarasuriya said. He added that though net finance cost remains high at Rs.329 million for the quarter under review, a gradual reduction of borrowing levels will ensure that this other key component of the cost structure, interest expense, will show a material decline from the second quarter onwards.
Agalawatte reports loss
Agalawatte Plantations PLC reported a net loss of Rs.68 million in the first quarter of 2009 end 31st March whereas the company made a net profit of Rs.44 million for the corresponding period last year. Consolidated turnover for the first quarter of 2009 was Rs.294.3 million, down from Rs.593.9 million the previous year.
The cost of sales was Rs.274.5 million for the period under review, less than Rs.463.1 million from the previous year but gross profit declined to Rs.19.7 million for the first quarter of 2009 from Rs.130.8 million in 2008.
Brown’s turnover rises
Brown & Company PLC made a turnover of just over Rs.7,001 million for the twelve months ended 31 March 2009, up from Rs.5,845 million for the corresponding period in 2008. The company made a profit of Rs.435.8 million compared to Rs.592 million the previous year.
The segmental data shows that the company’s trading business improved to Rs.488 million from Rs.476 million in 2008. The company’s travel and tours and finance business showed losses while pharmaceuticals and power and energy showed gains.
Sunshine Holdings profits fall
Sunshine Holdings PLC’s net profit decreased by 40% for the year ended 31 March 2009. The net profit for the period under review was Rs. 315 million, down from just over Rs.500 million for the corresponding period in 2008. The company’s revenue increased by 2% in 2009 to Rs.7.4 billion from Rs.7.2 billion but the cost of sales also increased by 6% to Rs.6.1 billion from Rs.5.7 billion in 2008. Gross profit decreased by 14% Rs.1.2 billion in 2009 from Rs.1.5 billion last year. According to the financial statements, other operating income increased by 97% in 2009 to Rs.202 million from Rs.102 million the previous year.
Loss at Galadari Hotels
Galadari Hotels Lanka PLC had a net loss of Rs.220 million in the first quarter of 2009, a decline of 341% over the previous year.
Revenue was Rs.142.9 million, down from Rs.193.4 million in the corresponding period in 2008. The cost of sales declined to Rs.28 million in 2009 from Rs.31 million the previous year. Marketing costs also declined. However, the interim financial statements show that the exchange losses for the first quarter of 2009 was Rs.117.6 million from an exchange gain of Rs.41.3 million the previous year. Galadari also made a Rs.178.5 million loss from its operating activities compared to a profit of Rs.7.5 million in 2008.
Vallibel Power net down
Vallibel Power Erathna PLC’s net profit for the six months ended 31 March 2009 decreased by 64% to Rs.65 million from the corresponding period the previous year.
The company’s revenue increased 1% for the period under review to Rs.111.1 million from the previous year. The cost of sales increased by 3% to Rs.16.8 million while administration expenses increased by 19% to Rs.19.7 million.
LMF shows loss
Lanka Milk Foods (CWE) PLC made a net loss of Rs.40 million for the year ended 31 March 2009 compared to a profit of Rs.256.7 million for the same period in 2008. According to the company’s consolidated provisional financial statements, turnover was Rs.3.4 billion in 2009, down from Rs.3.5 billion the previous year. The cost of sales was Rs.2.9 billion for 2009, a decline from Rs.2.8 billion in 2008. The gross profit for the period under review was Rs.526 million, down from Rs.713 million the previous year..
Renuka Holdings gains
Renuka Holdings PLC’s consolidated net profit grew by 4620% to Rs.542.7 million in the twelve months ended 31 March 2009 from Rs.11.4 million during the corresponding period in 2008. According to the group’s financial statements, turnover increased by 5204% to Rs.1.6 billion for the period under review. |
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