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Lion Brewery (Ceylon) fiscal Q4 profit falls YOY

Lion Brewery (Ceylon) PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 3.36 Sri Lankan rupees per share, a decrease of 37.3% from 5.37 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 269.3 million rupees, a decrease of 37.2% from 429.0 million rupees in the year-earlier period.

Reported net income totaled a loss of 251.1 million rupees, or a loss of 3.14 rupees per share, compared to income of 395.2 million rupees, or 4.94 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled 20.65 rupees per share, a gain of 20.1% from 17.19 rupees per share in the prior year.

Normalized net income was 1.65 billion rupees, a rise of 20.1% from 1.38 billion rupees in the prior year.

Full-year total revenue rose 11.0% on an annual basis to 16.18 billion rupees from 14.58 billion rupees, and total operating expenses grew 5.8% on an annual basis to 12.93 billion rupees from 12.23 billion rupees.

The company said reported net income totaled 1.33 billion rupees, or 16.63 rupees per share, in the full year, compared with 1.34 billion rupees, or 16.79 rupees per share, the prior year.

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