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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Elephant House net declines 4%; Keells Super still in red

Elephant House net declines 4%; Keells Super still in red

3 posters

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

John Keells group's, Ceylon Cold Stores, popularly known as Elephant House, saw a 4 percent year-on-year (YoY) decline in net profits to Rs.179.3 million for the September quarter (2Q13), with its Keells Super supermarket chain still in the red, the interim financial accounts released to the Colombo Stock Exchange showed.

The revenue during the three months under consideration grew 13 percent YoY to Rs.5.5 billion, with cost of sales also growing 13 percent to Rs.4.7 billion.

The group's other operating expenses during the quarter rose 200 percent YoY to Rs.83.8 million, while administrative expenses rose 23 percent YoY to Rs.189.7 million.

Basic earnings for the quarter dropped to Rs.1.89 from Rs.1.99 in 2Q12.
http://dailymirror.lk/business/other/23254-elephant-house-net-declines-4-keells-super-still-in-red.html

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Why is that? I thought food industry should grow massively (or at least a bit) because of tourism, travel and leisure especially thing like beverages and ice cream. And there was a drought period also.

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

aj wrote:Why is that? I thought food industry should grow massively (or at least a bit) because of tourism, travel and leisure especially thing like beverages and ice cream. And there was a drought period also.

Part of the reason is that other income was down 35 million....what do you think aj? maybe they built a road with that money.

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