The Ceylon Hospitals PLC Group reported a decreased net profit of Rs.70.5 million for the nine months ended 31 December 2009 over the corresponding period in 2008 despite higher revenue and gross profit of Rs.1.7 billion and Rs.940 million for the period reviewed respectively.
According to the company’s interim financial statements released this week, administrative expenses, other operating expenses and finance costs increased for the nine month period including increased taxes of Rs.30.8 million compared to Rs.19.5 million in 2008. The Group posted a net profit of Rs.22.2 million for the quarter ended 31 December 2009 compared to Rs.37.7 million during the same period in 2008.
The income statement shows that revenue for the quarter increased to Rs.630 million from Rs.545 million but increased cost of services and increases in administrative expenses, other operating expenses and finance costs contributed to the lower profit. |
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