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Friday, February 18, 2011

Sri Lanka Distilleries December net up

Feb 18, 2011 (LBO) – Distilleries Company of Sri Lanka group's December 2010 quarter net profits rose 45 percent to 1.2 billion rupees from a year ago with earnings per share rising to 4.06 rupees from 2.80 rupees, its accounts showed.

Gross sales rose 26 percent to 13 billion rupees in the period which saw a sharp rise in distribution and administration expenses, according to the results filed with the stock exchange.

According to a segmental analysis of the results, pre-tax profits from the group's beverage business rose to 4.4 billion rupees in the nine months to December 2010 from three billion the year before.

Its telecommunications business turned in a profit of 201 million rupees against a loss of 373 million the previous year.

Distilleries is said to be looking for a buyer for its subsidiary, fixed line operator Lanka Bell.

Distilleries also earned 170 million from plantations management compared with 186 million rupees a year ago. The group's Balangoda Plantations subsidiary produces tea and rubber and its Madulsima Plantations associate produces tea.

source - www.lbo.lk