Aug 13, 2010 (LBO) – Distilleries Company of Sri Lanka group's June 2010 quarter net profits rose 46.4 percent to 832.5 million rupees from a year ago on higher sales and lower distribution and finance costs, its accounts showed.The group made a profit of 2.77 rupees per share in the quarter compared with 1.90 rupees per share a year ago.
Distilleries group revenue was up 10.8 percent to 5.4 billion rupees, while cost of sales rose 15 percent to 2.94 billion rupees, resulting in a gross profit of 2.46 billion rupees, up 6.2 percent, its accounts showed.
The group's investment income rose 11.6 percent to 165.6 million rupees.
Distilleries distribution costs were down 24.1 percent to 522 million rupees, personal costs were up 4.08 percent to 633.2 million rupees, and other operating expenses rose 31.4 percent to 63 million rupees.
Group finance costs were down 49 percent to 91.1 million rupees, while tax costs rose 41.7 percent to 523.1 million rupees.
The group's fixed assets slid 5.6 percent to 15.6 billion rupees, while current assets rose 24 percent to 13 billion rupees.
The group has a 6.71 billion receivable from the government for the sale of Sri Lanka Insurance Corporation (SLIC). Last year it was 10.54 billion rupees.
The group gross assets rose 6.0 percent to 35.37 billion rupees.
source - www.lbo.lk
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