Lighthouse Hotels PLC (LHL) had minimized its losses by 77% in the first quarter of financial year 2011/12. Accordingly company had reduced its losses after tax from Rs.11.26 million in June 2010 to Rs.2.25 million in June this year.
Revenue has also increased from a year earlier by 39% to Rs.85.18 million from Rs.61.23 million. However company’s cost of sales has also shot up 24% from Rs.20.98 million to Rs.26.06 million and the administrative expenses has risen by 21% to Rs.59.28 million compared to Rs.48.92 million in the previous year.
Consequently loss per share of the company has reduced from 24 cents to 6 cents as at 31 June 2011. (JA
source - www.dailymirror.lk
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