Shares of PC House will make their debut on the Colombo Stock Exchange (CSE) this Thursday (26), the exchange announced yesterday.
Approximately 228.9 million ordinary shares valued at Rs. 629.6 million will be listed on the main board of the CSE and will be open for trading under security code PCH-N-0000.
"Deposits would be accepted with the Central Depository Systems (Pvt.) Ltd. with immediate effect," the stock exchange said.
PC House made a profit of Rs. 56.3 million for the four months ending July 31, 2010, unaudited interim financial statements filed with the Colombo Stock Exchange showed.
PC House recorded a 38 percent revenue growth during this period amounting to Rs. 1,066 million, as against Rs. 772.3 million a year ago. Gross profits increased by 26 percent to Rs. 220.2 million from Rs. 175.2 million.
The company’s finance costs for this period declined by 42 percent to Rs. 43.1 million from Rs. 73.8 million.
Its earnings per share increased to 0.24 from Rs. 0.09.
The company’s long term borrowings declined to Rs. 187.3 million as at July 31, 2010 from Rs. 223.9 million a year ago. Short term debts decreased to Rs. 670.6 million from Rs. 699 million while bank overdrafts decreased to Rs. 118.8 million from Rs. 130.4 million. It recorded a negative cash flow of Rs. 4.7 million.
Inventories dropped to Rs. 413.6 million from Rs. 523.6 million while trade receivables increased to Rs. 517.6 million from Rs. 283.8 million.
Total non current assets amounted to Rs. 625.2 million while current assets amounted to Rs. 1,145 million.
source - www.island.lk
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