Sunshine Holdings net profit up by 8%

4 November 2015 02:53 am - 0     - {{hitsCtrl.values.hits}}

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By Shabiya Ali Ahlam
Diversified conglomerate Sunshine Holdings posted a Rs.171.1 million net profit for 2Q16, an 8 percent growth Year-on-Year (YOY), largely due to improved performance in its healthcare and FMCG segments.

 The basic earnings per share moved from Rs.1.18 to Rs.1.27 compared to the same quarter the previous year.

The group’s revenue edged up 4.3 percent to Rs.4.34 billion, whereas cost of sales contracted by 2 percent YoY from Rs.3.31 billion to Rs.3.23 billion. 
Better management of costs led September quarter gross profits cross the Rs.1 billion mark, increasing by 29 percent.

The second quarter saw its profit before tax (PBT) double, reaching Rs.473.5 million, a 52 percent growth YoY from the Rs.311.7 million posted in 2Q15, despite the net finance cost contracting by 12 percent.

Financial income dropped 25 percent YoY in 2Q16, whereas financial cost fell by 19 percent from Rs. 53.3 million to 43.1 million.
Sunshine Holdings net profit up by 8% 

Interim report filing with the Colombo Stock Exchange (CSE) showed that the balance sheet as at 30 September remained stable with assets valued at Rs.15.18 billion, a Rs.571 million increase six months ago.

Segmental analysis showed that apart from agri and investment, all sectors have contributed to the top-line growth during first half ended September 30, 2015 (1H16).

Healthcare revenue for 1H16 expanded by 17.2 percent to Rs.3.4 billion from Rs.2.9 billion YoY, exceeding management expectations. 

The segment observed to have taken over agri to be the biggest contributor to group revenue, accounting for 40.2 percent of the total.

The FMCG sector posted a Rs.1.6 billion revenue in the first six months, a 19.9 percent increase YoY.  
The packaging and energy sector amounted to Rs.169 million and Rs.62 million in revenue terms, a 22.1 percent and 34.8 percent YoY increase. 

The improved performance in the energy sector was attributed to heavy inter-monsoon rainfall and improved plant and grid stability.

In terms of profits, agri emerged as the top contributor with Rs.261 million, followed by FMCG with Rs.227.7 million, and healthcare with Rs.180 million.

The number of ordinary shares as at September 2015 stood at 135,140,986, a 1,314,449 increase compared to the 133,826,537 in the corresponding period the previous year. 

However, when taking into account the number of shares held by the Dr. T. Senthilverl, a director and the single largest shareholder of the company, is now 22.8 percent, a marginal drop from the 23.4 percent held as at 30 June 2016. 
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See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

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