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Friday, February 11, 2011

Massive ERI results

Environment Resources Investment PLC (ERI) recorded a massive 14,440 percent increase in net profits for the nine month period ending December 31, 2010, its interim financial report filed with the Colombo Stock Exchange showed.

The group recorded a 14,440 percent increase in net profits during the nine month period which reached Rs. 712.5 million from Rs. 4.9 million a year earlier on strong revenue growth which was a whopping 31,700 percent growth reaching Rs. 1,590 million during the period under review from Rs. 5.6 million a year earlier.

Of the total revenue amounting to Rs. 1,590 million, manufacturing accounted for Rs. 1,278.4 million (an 81 percent share), stock brokering Rs. 50.5 million (3 percent), investment and services Rs. 227.2 million (14 percent) and pharmaceuticals Rs. 33.2 million (2 percent).

Of the total net profits amounting to Rs. 712.5 million for the nine month period ending December 2010, manufacturing amounted to Rs. 106 million (a 14 percent share), stock brokering Rs. 40.6 million (6.2 percent), investment and services Rs. 562.9 million (79 percent) and pharmaceuticals 2.9 million (0.4 percent).

source - www.island.lk