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Sunshine Holdings fiscal Q4 profit climbs YOY

Sunshine Holdings PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 22 Sri Lankan cents per share, an increase from 1 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 29.8 million rupees, an increase from 1.5 million rupees in the prior-year period.

The normalized profit margin increased to 0.7% from 0.0% in the year-earlier period.

Total revenue grew 12.4% year over year to 4.61 billion rupees from 4.11 billion rupees, and total operating expenses grew 10.0% from the prior-year period to 4.39 billion rupees from 3.99 billion rupees.

Reported net income grew from the prior-year period to 77.9 million rupees, or 57 cents per share, from 75.8 million rupees, or 56 cents per share.

For the year, the company's normalized net income totaled 2.36 rupees per share, an increase from 2.32 rupees per share in the prior year.

Normalized net income was 322.6 million rupees, an increase from 313.6 million rupees in the prior year.

Full-year total revenue increased 6.7% on an annual basis to 17.42 billion rupees from 16.33 billion rupees, and total operating expenses grew 5.8% on an annual basis to 15.81 billion rupees from 14.94 billion rupees.

The company said reported net income grew 21.2% year over year to 586.8 million rupees, or 4.30 rupees per share, in the full year, from 484.0 million rupees, or 3.58 rupees per share.

As of June 17, US$1 was equivalent to 145.15 Sri Lankan rupees.