Fri, 29 Mar 2024 Today's Paper

Cold Stores 2Q net up 129% to Rs.706mn

By

28 October 2015 03:05 am - 0     - {{hitsCtrl.values.hits}}

A A A

By Shabiya Ali Ahlam
Ceylon Cold Stores PLC (CCS), a unit of John Keels Holdings that has interests in consumer goods, manufacturing and retailing, saw its consolidated net profit for the September quarter (2Q16) swelling by 129 percent year-on-year (YoY) to Rs.706.4 million, having recorded a revenue of Rs.8.12 billion for the period, up 24 percent yoy.

Accordingly, the basic earnings per share (EPS) improved to Rs.7.43 from Rs.3.24. The top and the bottom lines of the company must have been boosted by the prevailing lower interest rate regime, higher disposable income though recent public sector salary hikes and lower fuel prices. 

The first half year performance (1H2016) too showed impressive performance with the firm recording a 20 percent YoY increase in revenue and a 107 percent increase in net profit to Rs.15.9 billion and Rs.1.25 billion, respectively.  
The profits were also boosted by the sharp drop in finance cost, which contracted by 84 percent YoY from Rs.19.6 million to Rs.3.9 million. 
At the same time, the finance income rose 175 percent to Rs.30.39 million from Rs.11.04 received for the same quarter the previous year. 

For the quarter ended September, manufacturing segment was the key contributor to the company’s bottom line having recorded an after-tax profit of Rs.519.4 million up from Rs.279.1 million yoy. 

The segment’s revenue also increased to Rs.3 billion from Rs.2.36 billion.

The after-tax profits of the retail segment rose to Rs.170.4 million from 48.6 million. The revenue surged to Rs.5.18 billion from Rs.4.25 billion. The percentage of shares held by the public as at 30 September, 2015 was 18.50 percent whereas the number of shareholders was 1, 905, an increase from 1, 899 shareholders as at 30 June 2015.

The top three shareholders for Ceylon Cold Stores are John Keells Holdings (70.61 percent), Whittal Boustead (10.70 percent) and GF Capital Global Limited (2.13 percent).

In a filing to the Colombo Stock Exchange (CSE), the company stated that its board of directors has approved the payment of an interim dividend for the year ending 31 March 2016, of Rs.5 per share to be paid on the 28 October 2015.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H