Kingsbury affected by increase in income tax
View(s):The steep increase in income tax has impacted on Kingsbury Colombo, owned by Hayleys PLC, according to its interim accounts for 1Q2016 which however reported a growth in profit. The report showed an increase of 14 per cent in gross profit for this period to Rs. 1.4 million against the Rs. 1.25 million in the corresponding period for last year. The profit before tax was at Rs. 357,860 for the 1Q2016, an increase of 19 per cent against the Rs. 300,121 in the same period last year. Businessman Dhammika Perera holds 50.44 per cent directly and indirectly of the total issued shares of Hayleys PLC which holds 112,307,057 shares in The Kingsbury PLC. Mr. Perera holds 63.48 per cent directly of the issued share of Valibel One PLC, which holds 3,216,146 shares in The Kingsbury PLC.