Business Times

DCSL 1Q12 consolidated gross revenue, net profit up 35%

Harry Jayawardena-controlled Distilleries Company of Sri Lanka (DCSL) recently released its interim, unaudited first quarter 2011/2012 financials in which it revealed consolidated gross revenues of Rs. 15.3 billion, up 35% year-on-year, and profit attributable to equity holders of Rs. 1.2 billion, a 49% year-on-year increase, for the three months to end-June 2011. Also shown, investment income more than doubled year-on-year to Rs. 378.2 million.

Dividends received also shot up by twice what it was the year before to Rs. 159.2 million while acquisitions of shares and other investments as well as property, plant and equipment increased in excess of Rs. 700 million and by four fold, year-on year, respectively. Also, cash and cash equivalents for the period was indicated as being Rs. 6.6 billion, up from Rs. 2.5 billion for the corresponding period the year before.

Additionally, segment-wise, there were year-on-year consolidated turnover gains in all business units, except for telecommunications. Beverages grew to Rs. 12.7 billion, from Rs. 9.3 billion, Plantations rose to Rs. 774.7 million, from Rs. 699.5 million, and Diversified increased to Rs. 702.6 million, from Rs. 178.6 million, while Telecommunications fell to Rs. 1.1 billion, from Rs. 1.15 billion. At the same time, industry profitability rose across the board, year-on-year, with Beverages growing to Rs. 1.7 billion, from Rs. 1.3 billion, Plantations rising to Rs. 132.3 million, from Rs. 87.1 million, Telecommunications increasing to Rs. 15.2 million, from a loss of Rs. 73.6 million, and Diversified going up to Rs. 47 million, from a Rs. 44.2 million loss.

However, a notation also reiterated that the company was yet to receive profits it was due from the Sri Lankan government after its shareholdings in Sri Lanka Insurance Corporation (SLIC), valued at Rs. 5.7 billion, reverted back to the state. This lack of action is said to be as a result of an unfinished valuation for 2003 to 2009 SLIC profits which the country's Supreme Court ordered paid to DCSL subsidiary Milford Holdings.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Tourism expectations drop amidst no promotions, adverse publicity
India’s 4th largest FMCG firm launches new subsidiary in Sri Lanka
Call for Private Placement lock in periods after IPOs
3M to strengthen R&D in SL
Etisalat empowers entrepreneurship
Jet float docks in Sri Lanka
COMMENT - Tourism: Long way to go
Star classification in hotels
Sustainability imperative for “speed boat” Sri Lanka
Cargills 1Q12 group revenue, PAT up 25%
New high-tech facility to store grain, perishables
NDB Group reaches Rs. 1 bln net profit 'landmark'
FCCISL urges government to negotiate with cement suppliers Pakistan and India
Overseas Realty profits up sharply in 6mths to June 2011
Cinnamon Lakeside Colombo becomes first Green Globe Re-certified Sri Lankan Hotel extends into local languages with,
Norwegian entrepreneur introduces jetfloat recreational platforms to attract fun-loving European travellers
SriLankan air taxis popular with corporates
Landmark ICASL – INSEAD global leadership programme back in Sri Lanka following overwhelming demand
Colombo Plan to expand its membership up to West Asia
Seethawaka industrial zone utilizes 96% of its developed land conserving environment
Move forward with 2001/2002 petrol reforms, open up imports
There are no bad bosses
Technology Leaders Gathering in Sri Lanka for WSO2Con 2011
DCSL 1Q12 consolidated gross revenue, net profit up 35%
LOLC Securities launched
On'ally Holdings PLC profits up
Sampath's Lanka Bangla keeps investment
Prudential Shipping appointed logistics partner for KKS project
Sri Lanka displays its achievements in the construction industry
Lankan economy strong and able to withstand global 'jolts':Governor
19th NCE Annual Export Awards to be held on Sept. 16
Active market conditions!!!
Four mln dependants on Lanka Tourism in 9 years
Three Aitken Spence Heritance Hotels bag energy efficiency awards
Tourism recovery for debate at World Travel Market
Yala gets first hotel proposal outside buffer zone
Web marketing to push forward tourism promo: Godahewa
Women surfers, men’s longboard title to excite Pro Surf 2011


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution