Chevron 3Q net profit up 23%

The finance income showed a significant 63 percent yoy reduction to Rs.25 million. For the first nine months 2014, the finance income declined 58 percent yoy to Rs.98.3 million.The construction of Chevron Lanka’s US $ 15 million blending plant in Sapuguaskanda is scheduled for completion by October this year.

The earnings per share for the quarter improved to Rs.6.25 from Rs.5.08.Meanwhile, the net profit for the first nine months rose 13 percent yoy to Rs.2.18 billion. The revenue rose 5 percent yoy to Rs.8.7 billion while costs of sales fell 2 percent yoy to Rs.5.1 billion. The gross profit improved 17 percent yoy to Rs.3.6 billion.The earnings per share stood at Rs.18.24, up from Rs.16.18A third interim dividend of Rs.5.50 per share to be paid on November 18, 2014 has also been announced.