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Lion Brewery (Ceylon) fiscal Q2 profit climbs 69.7% YOY

Lion Brewery (Ceylon) PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 5.64 Sri Lankan rupees per share, a gain of 69.7% from 3.32 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 451.3 million rupees, an increase of 69.7% from 265.9 million rupees in the prior-year period.

The normalized profit margin climbed to 6.1% from 4.2% in the year-earlier period.

Total revenue rose 16.5% on an annual basis to 7.42 billion rupees from 6.37 billion rupees, and total operating expenses rose 10.9% year over year to 6.54 billion rupees from 5.90 billion rupees.

Reported net income grew 92.6% from the prior-year period to 497.9 million rupees, or 6.22 rupees per share, from 258.5 million rupees, or 3.23 rupees per share.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.