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Ceylon Cold Stores fiscal Q3 profit climbs 32.8% YOY

Ceylon Cold Stores PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2.89 Sri Lankan rupees per share, an increase of 32.7% from 2.18 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 274.9 million rupees, a gain of 32.8% from 207.0 million rupees in the year-earlier period.

The normalized profit margin rose to 3.9% from 3.3% in the year-earlier period.

Total revenue increased 13.8% year over year to 7.04 billion rupees from 6.18 billion rupees, and total operating expenses rose 12.6% from the prior-year period to 6.57 billion rupees from 5.83 billion rupees.

Reported net income rose 22.1% from the prior-year period to 316.6 million rupees, or 3.33 rupees per share, from 259.4 million rupees, or 2.73 rupees per share.

As of Jan. 30, US$1 was equivalent to 132.17 Sri Lankan rupees.