Recent financials of Sri Lankan investment and palm oil plantations focused Carsons Cumberbatch have revealed that the group has experienced a 12% year-on-year drop in its first quarter 2011 net profit, to Rs. 1,187 million.

However, total revenues for the group increased year-on-year to Rs. 8.7 billion for the first quarter of the 2011 financial year, comprising the three months which ended on June 30, 2010, from Rs. 5.9 billion in 2009; apparently due to increases total revenue figures across all segments of its diversified business holdings (investment holdings, oil palm plantations, beverage, real estate, hotels and management services) except for one, airlines.

Further, segmental analysis shows revenues in Carson's investment holdings and real estate businesses have yielded the best results by more than doubling even though revenues from the group's typically highest earner, palm oil plantations, was virtually stagnant compared to the same quarter of 2009.

Although the group's after tax profits marginally dropped compared to the same period last year, which has occurred for the third year in a row, on a segmental basis, profitability in virtually all the group's businesses improved except for palm oil plantations and airlines. While after tax profits in beverages ballooned to more than double its previous amount, from Rs. 77 million for the three months ended June 30, 2009, to Rs. 271 million in the same period of 2010.

Additionally, according to financials, the market value per ordinary share in this quarter, the first of the company's financial year edning 2011, was at an average of Rs. 545.00. This is in comparison to Rs. 181.50 for the same ordinary share during the same period of its last financial year.