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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka Sathosa Motors profits flat

Sri Lanka Sathosa Motors profits flat

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1Sri Lanka Sathosa Motors profits flat Empty Sri Lanka Sathosa Motors profits flat Mon Oct 15, 2012 2:12 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Oct 15, 2012 (LBO) - Sathosa Motors, a unit of Sri Lanka's Access group which has the agency for Isuzu, has maintained profits for the September 2012 quarter at 40.7 million rupees, up 2 percent from a year earlier, interim accounts showed.

The firm reported earnings of 6.76 rupees per share for the quarter, in accounts filed with the Colombo Stock Exchange. In the six months to September 2012, profits fell 12 percent to 77.9 million giving earnings of 12.91 rupees per share.

Sathosa Motors was the first to report results in the September 2012, earnings season.

In the September quarter the firm said revenues grew 15 percent to 562 million rupees, cost of sales also grew 15 percent to 466 million rupees and gross profit grew 16 percent to 89.5 million rupees.

Though Sri Lanka hiked taxes on motor cars through a mid-night gazette in the second quarter of 2012, commercial vehicles were not included.

Other operating income fell 66 percent to 4.6 million rupees and there were no finance expenses.

The firm had 363 million rupees in cash equivalents.

By end September inventories had gone up to 587 million rupees from 232 million a year earlier, but were down from 714 million rupees in December 2011.
http://lbo.lk/fullstory.php?nid=1060172516

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