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Kingsbury fiscal Q3 profit climbs 50.9% YOY

Kingsbury PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 27 Sri Lankan cents per share, a gain of 35.2% from 20 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 65.1 million rupees, an increase of 50.9% from 43.1 million rupees in the prior-year period.

The normalized profit margin rose to 10.2% from 7.1% in the year-earlier period.

Total revenue increased 4.9% year over year to 637.1 million rupees from 607.3 million rupees, and total operating expenses declined year over year to 496.2 million rupees from 509.2 million rupees.

Reported net income increased 50.0% from the prior-year period to 103.5 million rupees, or 43 cents per share, from 69.0 million rupees, or 32 cents per share.

As of Jan. 30, US$1 was equivalent to 132.17 Sri Lankan rupees.