Sri Lanka’s Ceylon Cold Stores Profits Sharply Up!
Profits at Sri Lanka’s Ceylon Cold Stores, a consumer goods maker and retailer rose 315 percent from a year earlier to 259 million rupees in the December 2014 quarter, interim accounts showed.
The firm reported earnings of 2.73 rupees per share for the quarter. In the nine months to December earnings were 6.03 rupees per share on total profits of 572 million rupees up 16 percent.
The firm said revenues rose 8 percent to 6.3 billion rupees, and expense grew at a slower 6 percent to 5.4 billion rupees allowing gross profits to grow at a faster 25 percent to 826 million rupees.
Ceylon Cold Stores, a unit of John Keells Holdings which produces ‘Elephant’ brand soft drinks and ice cream said revenues from manufacturing in the quarter rose to 2.0 billion rupees from 1.8 billion and profits rose to 182 million rupees from 102 million rupees a year earlier.
Revenues from retailing rose to 4.2 billion rupees from 3.9 billion rupees and profits rose to 75 million rupees recovering from a loss of 40 million rupees in 2012.