Chevron plans increased volumes to B’desh
View(s):Chevron Lubricants Lanka PLC has plans to increase its volumes to Bangladesh, officials said. ”We aim to increase our share in Bangladesh,” Kishu Gomes, Chairman Chevron told the Business Times. During 1Q16 the company’s revenue expanded by 11 per cent year on year (yoy) to reach Rs. 3.1 billion from 2.8 billion. “This was primarily based on a volume growth of our products, stemming from the approach of the lubrication changing cycles of the large number of vehicle registrations which took place before the tax revisions,” he said.
He said the company has completed its plant relocation at its new 4.5 acre land at Sapugaskanda. The 1Q16 Gross Profit of the company increased by 27 per cent yoy to reach Rs. 1.5 billion from Rs. 1.2 billion earlier. The gross profit margins for 1Q16 improved to 48.4 per cent. The company saw an increase of 33 per cent yoy in its 1Q16 Profit After Tax which stood at Rs. 985.9 million from Rs. 42.7 million in the corresponding period last year.