Wednesday, August 17, 2011

Sri Lanka Distilleries net up 48-pct

Aug 17, 2011 (LBO) - Distilleries Company of Sri Lanka group which has interests in alcohol, telecom, plantations and insurance said profits from the June 2011 quarter rose 48 percent to 1.36 billion rupees from a year earlier.

The group reported earnings of 4.13 rupees for the quarter. The stock closed at 173.60 rupees Tuesday.
The group said revenues rose 34.9 percent to 15.3 billion rupees.

At the core alcohol business, revenues rose 35 percent to 11.9 billion rupees and after tax profits rose 80 percent to 1.4 billion rupees.

At pre-tax level group telecom business through the fixed access operator Lanka Bell had revenues of 1.10 billion rupees, marginally lower from 1.15 billion a year earlier.

But telecoms posted profits of 15 million rupees against losses of 73 million a year earlier.

In the annual report for the year ending March 2011, the group said its voice business was weaker but broadband and wholesale businesses did better.

Its plantations business had profits of 132 million rupees, up from 87 million a year earlier.

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