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Lion Brewery (Ceylon) fiscal Q1 profit climbs 77.6% YOY

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Lion Brewery (Ceylon) fiscal Q1 profit climbs 77.6% YOY

Lion Brewery (Ceylon) PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 5.80 Sri Lankan rupees per share, a gain of 77.5% from 3.27 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 463.7 million rupees, a gain of 77.6% from 261.1 million rupees in the prior-year period.

The normalized profit margin increased to 6.7% from 4.4% in the year-earlier period.

Total revenue climbed 15.0% on an annual basis to 6.90 billion rupees from 5.99 billion rupees, and total operating expenses grew 10.2% from the prior-year period to 6.08 billion rupees from 5.52 billion rupees.

Reported net income increased 69.6% year over year to 487.9 million rupees, or 6.10 rupees per share, from 287.7 million rupees, or 3.60 rupees per share.

As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.