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Kingsbury fiscal Q4 profit climbs YOY

Kingsbury PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 24 Sri Lankan cents per share, an increase of 75.9% from 14 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 59.2 million rupees, an increase from 29.3 million rupees in the prior-year period.

The normalized profit margin rose to 9.1% from 4.4% in the year-earlier period.

Total revenue fell on an annual basis to 650.1 million rupees from 661.5 million rupees, and total operating expenses fell 10.9% on an annual basis to 528.1 million rupees from 592.5 million rupees.

Reported net income grew 83.5% year over year to 77.5 million rupees, or 32 cents per share, from 42.2 million rupees, or 20 cents per share.

For the year, the company's normalized net income totaled 81 cents per share, an increase from 11 cents per share in the prior year.

Normalized net income was 195.3 million rupees, a gain from 23.4 million rupees in the prior year.

Full-year total revenue increased 9.0% on an annual basis to 2.41 billion rupees from 2.21 billion rupees, and total operating expenses increased on an annual basis to 1.98 billion rupees from 1.91 billion rupees.

The company said reported net income increased on an annual basis to 291.4 million rupees, or 1.20 rupees per share, in the full year, from 32.7 million rupees, or 15 cents per share.

As of May 29, US$1 was equivalent to 133.88 Sri Lankan rupees.