The company had increased its PBT by 71 percent while the group has increased its PBT by 468 percent. The group turnover increased by 118 percent over the previous period owing to the increased sales in its subsidiaries selling the KIA brand of motor vehicles. The group sales of vehicles had increased by 66 percent over the previous period. The groups gross profit increased by 106 percent over the previous nine months and was 310 percent for the quarter ended December 31, 2010.
The Colonial Motors Group’s basic earnings per share was Rs 9.22 as against Rs 2.18 for the nine months period in comparison to the previous nine months.
The group net asset value per share in the current nine month period was Rs 138.63 as opposed to Rs 64.32 while the company net asset value was Rs 110.59 in the current nine months. The group cash flow shows as a healthy surplus in comparison with the previous period. This has resulted in Colonial Motors share price showing a high of Rs 304 during the period in comparison with Rs 49.25 during the previous period.
Speaking to Daily News Business Colonial Motors Managing Director M Ratnayake said that the reduction of the vehicle import duty contributed heavily for this significant improvement in the company’s financial performance during the nine months ended December 31, 2010.
source - www.dailynews.lk
No comments:
Post a Comment