Holdings profits boosted by retail operations

CT Holdings Plc, formerly Ceylon Theatres Group has recorded a post tax profit of Rs.350 million for its December quarter, which is an increase of 180 percent compared with the same quarter of the previous financial year.

The company's profitability was boosted by the excellent performance of its retail and wholesale distribution sector which contributed Profit-After-Tax of Rs.474 million for the year, against Rs.217 million made during the previous year.

The quarterly Earnings per Share (EPS) were Rs.1.97 against the Rs.0.70 of the corresponding quarter.

The firm's food processing sector has also recorded an after tax profit of Rs.350 million against a Rs.227 million made in the previous year.

However, the profits of the ceramic and tile subsidiaries of CT Holdings were flat. Recently in a measure to consolidate its Ceramic business, the company amalgamated its two ceramic manufacturing companies, Lanka Walltile Plc and Lanka Walltile Meepe Limited.

For the nine months up to December, CT Holdings 'net profit rose 155 percent to 625 million compared with the same period last year. The EPS for the period was Rs.367.

Apart from retail, food processing and ceramics and tile sectors, the firm has interests in real estate, restaurants, plantations, packaging and entertainment.

Recently, Cargill Ceylon Plc, the retail subsidiary of CT Holdings entered into the soft liquor business in the country through the acquisition of McCallum Breweries.

Page family controlled Odeon Holdings Ceylon has a majority stake of 43 percent of the company while its Chairman Anthony Page holds 9.3 percent.

source - www.dailymirror.lk