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Keells Food Products fiscal Q3 profit climbs 11.1% YOY

Keells Food Products PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 3.09 Sri Lankan rupees per share, an increase of 11.2% from 2.78 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 78.8 million rupees, a gain of 11.1% from 70.9 million rupees in the year-earlier period.

The normalized profit margin dropped to 9.4% from 9.8% in the year-earlier period.

Total revenue rose 16.7% on an annual basis to 842.3 million rupees from 721.7 million rupees, and total operating expenses climbed 18.2% from the prior-year period to 717.6 million rupees from 606.9 million rupees.

Reported net income increased 7.5% on an annual basis to 98.0 million rupees, or 3.85 rupees per share, from 91.2 million rupees, or 3.58 rupees per share.

As of Jan. 14, US$1 was equivalent to 143.75 Sri Lankan rupees.