Wednesday, August 17, 2011

Distilleries June quarter profits Rs. 1.36bn, up 58%

Alcohol producer Distilleries Company of Sri Lanka PLC, also a diversified holdings company with interest in the plantations and telecommunications sector, has recorded a net profit of Rs. 1.36 billion for the quarter ended June 30, 2011, up 57.77 percent from Rs. 866.65 million a year earlier, interim financials submitted to the Colombo Stock Exchange showed.

Turnover during the quarter increased 34.96 percent to Rs. 15.31 billion from Rs. 11.35 billion a year earlier.

Segment-wise, beverages contributed Rs. 12.73 billion to group turnover, while telecommunications contributed Rs. 1.1 billion, Plantations Rs. 774.71 million and diversified Rs. 702.64 million.

Turnover from beverages, mainly alcohol, was up 36.73 percent in the June quarter from a year earlier. The diversified segment recorded the strongest growth at 293.37 percent followed by plantations at 10.75 percent, while telecommunications recorded a 4.34 percent year-on-year decline.

Beverages had contributed Rs. 1.76 billion to the consolidated profits for the quarter, plantations Rs. 132.3 million, telecommunications Rs. 15.28 million (from a loss of Rs. 73.63 million a year earlier) and diversified Rs. 47 million (from a loss of Rs. 44.2 million).

The company had a revenue reserve of Rs. 26.53 billion as at June 30, 2011, up 46.41 percent from a year ago and capital reserves amounted to Rs. 6 billion, up 122.22 percent.

The company is controlled by business tycoon Harry Jayawardena who functions as its Chairman/Managing Director. Other members of the director board include R. K. Obeyesekere, C. R. Jansz, N. De S. Deva Aditya, K. J. Kahanda, C. F. Fernando, Dr. A. N. Balasuriya and Ms. V. J. Senaratne (alternate director to Deva Aditya).

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