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Ceylon Beverage fiscal Q3 profit falls YOY

Ceylon Beverage Holdings PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 9.18 Sri Lankan rupees per share, a decrease of 13.9% from 10.67 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 192.7 million rupees, a decline of 13.9% from 223.7 million rupees in the year-earlier period.

The normalized profit margin increased to 3.4% from 3.2% in the year-earlier period.

Total revenue climbed 21.5% year over year to 8.57 billion rupees from 7.06 billion rupees, and total operating expenses climbed 19.2% on an annual basis to 7.62 billion rupees from 6.39 billion rupees.

Reported net income increased 68.5% on an annual basis to 312.5 million rupees, or 14.89 rupees per share, from 185.4 million rupees, or 8.84 rupees per share.

As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.