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Sunshine Holdings fiscal Q3 profit climbs 14.5% YOY

Sunshine Holdings PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 78 Sri Lankan cents per share, an increase of 13.7% from 68 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 105.6 million rupees, an increase of 14.5% from 92.3 million rupees in the prior-year period.

The normalized profit margin increased to 2.6% from 2.5% in the year-earlier period.

Total revenue grew 8.8% on an annual basis to 4.07 billion rupees from 3.74 billion rupees, and total operating expenses rose 11.9% year over year to 3.58 billion rupees from 3.20 billion rupees.

Reported net income decreased 44.6% year over year to 103.6 million rupees, or 76 cents per share, from 187.0 million rupees, or 1.39 rupees per share.

As of Feb. 2, US$1 was equivalent to 132.38 Sri Lankan rupees.