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Sunshine Holdings fiscal Q3 profit falls YOY

Sunshine Holdings PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 61 Sri Lankan cents per share, a decrease of 21.4% from 78 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 83.2 million rupees, a decline of 21.2% from 105.6 million rupees in the prior-year period.

The normalized profit margin fell to 1.9% from 2.6% in the year-earlier period.

Total revenue climbed 5.3% year over year to 4.29 billion rupees from 4.07 billion rupees, and total operating expenses grew 6.0% from the prior-year period to 3.79 billion rupees from 3.58 billion rupees.

Reported net income increased 69.3% on an annual basis to 175.3 million rupees, or 1.29 rupees per share, from 103.6 million rupees, or 76 cents per share.

As of Feb. 11, US$1 was equivalent to 144.06 Sri Lankan rupees.