By Keishara Perera
Cargills (Ceylon) PLC recorded a net profit of Rs. 268 million for the fourth Quarter ended March 31,2011. This was in comparison to a net profit of Rs.220 million during the corresponding period of 2010.
This increase in profit reflected a variance of Rs. 47,500 on the Provisional Financial Statements for the year ended March 31, 2011. Earnings Per Share (EPS) for the quarter stood at Rs. 1.20 in contrast to the EPS value of Rs. 0.98 of the previous year’s fourth quarter.
Meanwhile, net profit for the year ended March 31, 2011 stood at Rs. 1.1 billion against Rs. 712 million for the financial year 2010, indicating an increase of Rs. 400,000. EPS for the period in consideration was Rs. 4.97 when compared to EPS of Rs. 3.18 of the previous year.
Furthermore, the food and beverages segment was the highest contributor to net profit in the fourth quarter. It stood at Rs. 553 million in contrast to Rs. 428 million of the previous year’s final quarter.
However, there was a considerable decline in the contribution to profit from the wholesale distribution operation segment, which contributed Rs. 30 million during fourth quarter of 2010. Short term borrowings increased to Rs. 6.2 billion from Rs. 2.7 billion as at March 31,2011.
C T Holdings PLC topped the list of Top 20 shareholders as at March 31,2011, with a 70% stake amounting to Rs. 157 million shares.
source - www.dailymirror.lk
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