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Ceylon Beverage fiscal Q4 profit climbs 75.7% YOY

Ceylon Beverage Holdings PLC said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 18.39 Sri Lankan rupees per share, a gain of 75.9% from 10.45 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 385.7 million rupees, an increase of 75.7% from 219.5 million rupees in the prior-year period.

The normalized profit margin dropped to 3.1% from 3.7% in the year-earlier period.

Total revenue climbed 58.7% on an annual basis to 9.48 billion rupees from 5.97 billion rupees, and total operating expenses rose 68.1% on an annual basis to 8.86 billion rupees from 5.27 billion rupees.

Reported net income came to a loss of 136.6 million rupees, or a loss of 6.51 rupees per share, compared to income of 167.1 million rupees, or 7.96 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled 48.63 rupees per share, an increase of 57.7% from 30.84 rupees per share in the prior year.

Normalized net income was 1.02 billion rupees, a gain of 57.7% from 647.3 million rupees in the prior year.

Full-year total revenue rose 25.3% on an annual basis to 32.39 billion rupees from 25.85 billion rupees, and total operating expenses rose 23.5% year over year to 29.09 billion rupees from 23.56 billion rupees.

The company said reported net income grew 24.8% on an annual basis to 658.6 million rupees, or 31.38 rupees per share, in the full year, from 527.5 million rupees, or 25.13 rupees per share.

As of June 30, US$1 was equivalent to 133.91 Sri Lankan rupees.