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Ceylon Beverage fiscal Q2 profit climbs 90.8% YOY

Ceylon Beverage Holdings PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 10.62 Sri Lankan rupees per share, a gain of 91.1% from 5.56 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 222.9 million rupees, an increase of 90.8% from 116.8 million rupees in the year-earlier period.

The normalized profit margin rose to 3.0% from 1.7% in the year-earlier period.

Total revenue climbed 5.7% on an annual basis to 7.43 billion rupees from 7.03 billion rupees, and total operating expenses declined on an annual basis to 6.52 billion rupees from 6.59 billion rupees.

Reported net income rose year over year to 251.5 million rupees, or 11.98 rupees per share, from 91.5 million rupees, or 4.35 rupees per share.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.