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Ceylon Beverage fiscal Q1 profit climbs YOY

Ceylon Beverage Holdings PLC said its normalized net income for the fiscal first quarter ended June 30 was 10.45 Sri Lankan rupees per share, an increase from 4.16 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 219.4 million rupees, a gain from 87.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.2% from 1.5% in the year-earlier period.

Total revenue increased 19.4% on an annual basis to 6.91 billion rupees from 5.78 billion rupees, and total operating expenses climbed 14.9% on an annual basis to 6.09 billion rupees from 5.30 billion rupees.

Reported net income rose from the prior-year period to 231.1 million rupees, or 11.01 rupees per share, from 83.5 million rupees, or 3.98 rupees per share.

As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.