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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » RCL bought around 25.5% of LB FINANCE PLC,cquired 51% stake in Asia Siyaka Commodities for Rs. 336 million

RCL bought around 25.5% of LB FINANCE PLC,cquired 51% stake in Asia Siyaka Commodities for Rs. 336 million

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Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Royal Ceramics Plc (RCL) has seen its best ever performance in the financial year ended on 31 March 2011 with Group pre-tax profit topping the Rs. 2 billion mark and net profit attributable to equity holders also reaching a record high.

As per provisional results released last week, RCL Group pre-tax profit grew by 31% to Rs. 2.01 billion whilst net profit attributable to equity holders amounted to Rs. 1.95 billion, up by 36% over 2010/11 financial year.

The record bottom line was powered by robust performance of RCL’s flagship tiles business and impressive profits in its new line sanitary ware. RCL’s profits were also boosted by Rs. 269 million income from sale of shares whilst overall other operating income was Rs. 303.8 million, up by 42% over 2010/11 financial year. Additionally there was Rs. 81 million contribution as profit from associate. During the fourth quarter RCL increased stake in LB Finance Plc to 25.85% from 4% previously with an investment of Rs. 2.47 billion. However, only the quarter’s last month had been consolidated into the accounts.

LB Finance, the fastest growing in the league, in the first nine months of FY12 reported a net profit of Rs. 1.13 billion, up by 81% over the corresponding period of last financial year.
For RCL at Company level other operating income amounted to Rs. 2.2 billion due to Rs. 1.8 billion dividend received from fully owned subsidiary Royal Porcelain Ltd.

Last quarter performance has been healthy as well with after-tax profit of Rs. 475 million, up from Rs. 422 million a year earlier but lower in comparison to Rs. 595.7 million achieved in the third quarter of 2011/12 financial year.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Pls post news in "news" section in future, remember to post the source as well..

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Part of the news published.
Please see
http://www.ft.lk/2012/05/14/royal-ceramics-pre-tax-profit-tops-rs-2-b/

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