Royal Ceramics Plc has crossed the Rs. 1.5 billion mark in pre-tax profits in the just concluded 2010/11 financial year, reflecting a 54% growth over the previous year.
Net profit attributable to equity holders for the year ended 31 March 2011 was Rs. 1.459 billion, up by 51% over 2009/10 financial year. In 2010/11 earnings per share amounted to Rs. 13.17, up from Rs. 8.70
Group gross profit rose by 25% to Rs. 2.65 billion whilst gross revenue had increased by 29% to Rs. 6.4 billion in 2010/11.
In 2010/11 the bottom line had been helped by Rs. 214.3 million in other income (up from Rs. 156.7 million in the previous year) and 47% dip in finance expenses to Rs. 204 million.
In the fourth quarter Royal Ceramics had posted a Rs. 439.6 million net profit as against Rs. 314.2 million a year earlier. Pre-tax profit for the 4Q was Rs. 448.8 million up from Rs. 330.5 million in the 4Q of 2009/10. Group revenue rose to Rs. 1.7 billion from Rs. 1.49 billion in the 4Q of 2009/10/
At company level in 4Q after-tax profit was Rs. 851.8 million for the 4Q, up by 96% supported by Rs. 800 million in other operating income (up from Rs. 447.7 million in 4Q of 2009/10) whilst gross revenue rose by 43% to Rs. 660.6 million.
Group assets as at 31 March 2011 amounted to Rs. 8.48 billion, up from Rs. 6.48 billion a year ago. The Group had retained earnings of Rs. 3.6 billion, up from Rs. 2.6 billion in 2009/10.
Nimal enters Serendib with 3% stake for Rs. 57.4 m; share price gains
High networth individual investor Nimal Perera yesterday entered the Serendib Hotels by picking up a 3% stake for Rs. 57.4 million.
The stake, amounting to 0.41 million voting shares, was done at Rs. 140 each. Immediately after the buy, Serendib share price shot up to Rs. 160 and to a peak of Rs. 172 before closing at Rs. 168.90, up by Rs. 8.90 with 479,200 shares traded. The 52-week highest price of Serendib, which is part of Hemas Group, is Rs. 185.
Serendib Hotels Plc is closed until 15 November for refurbishment with an investment of Rs. 650 million, after which it will be repositioned as a design hotel. Funds for expansion will be sourced via Rs. 501 million in the form of equity.
Serendib has announced a one for four rights issue preceded by a sub division of five into one. These are for both voting and nonvoting shares. Voting rights issue were priced at Rs. 24.50 each and nonvoting at Rs. 18.25 each.
Hotel Serendib in Bentota was themed on an 18th Century Dutch village by Sri Lanka’s world famous architect Geoffrey Bawa. It has 90 rooms including 44 standard rooms, 42 superior rooms and one suite.
source - www.ft.lk
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