FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» BROWNS INVESTMENTS PLC (BIL.N0000)
by MoneyLover Today at 7:16 pm

» What is "Introductions" in Upcoming listing in CSE?
by Nandun Today at 1:46 pm

» Glove stocks fall after Top Glove posts weaker 4Q results
by ResearchMan Today at 1:37 pm

» KOTAGALA PLANTATION
by stockchaser Today at 8:03 am

» The stock market can be a great place to make money; it can also be a great place to lose money. Stock market for beginners
by Economatta Today at 6:16 am

» LOFC AND CLC Target Price??
by Captain Yesterday at 9:17 pm

» Top Foreign Trading today
by SAGA Yesterday at 6:32 pm

» Top crossings today
by SAGA Yesterday at 5:01 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Sunimal Yesterday at 12:52 pm

» Amana Takaful ATL & ATLL
by kanishkaecomm Yesterday at 12:17 pm

» Best Time to Collect Cic X
by Value Pick Yesterday at 8:15 am

» Why is First Capital Holdings being dumped?
by Berryfund Yesterday at 6:29 am

» AGST can move
by Zayden River Thu Sep 16, 2021 11:58 pm

» COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)
by newone Thu Sep 16, 2021 11:57 pm

» AGSTAR PLC (AGST.N0000)
by Zayden River Thu Sep 16, 2021 11:57 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Bakkabwoi Thu Sep 16, 2021 8:10 pm

» Twitter accounts related to the stock market
by Bakkabwoi Thu Sep 16, 2021 8:09 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by xhunter Thu Sep 16, 2021 7:55 pm

» LOFC LOFC LOFC
by madukp Thu Sep 16, 2021 6:49 pm

» How Equity Emerged the Top Asset Class During a Pandemic
by samaritan Thu Sep 16, 2021 6:30 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Cargills posts net-profit Rs. 598m

Cargills posts net-profit Rs. 598m

Go down  Message [Page 1 of 1]

1Cargills posts net-profit Rs. 598m Empty Cargills posts net-profit Rs. 598m Thu Jun 04, 2015 10:00 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Cargills Ceylon PLC reported a 9.7% growth in turnover for the year ended and a 19.0% growth in top line for the quarter ended to close the year at Rs. 61.6 Bn.

The revenue growth is largely stemming from a strong performance from the FMCG segment while Retail and Restaurants businesses have also stabilized during the last quarter.

The Group reported a net-profit of Rs. 598.0 Mn for the year which includes a Rs 352.7 Mn one-off gain from the disposal of Millers Brewery Limited and a provision for impairment in value of Goodwill and Investments amounting to Rs. 180.9 Mn. Group profit after tax for the fourth quarter was Rs. 317.2 Mn.

The Retail sector reported a turnover of Rs. 51.4 Bn for the year with 'deemed VAT' continuing to hamper the market potential of locally sourced rice, fruits, vegetables, meats and seafood. Supermarkets can only claim 25% of its turnover as Non-VAT liable regardless of the composition of its turnover.

Nevertheless during the year the Company paid Rs 870 Mn as 'deemed VAT' on VAT exempted products compared to Rs. 130 Mn paid as 'deemed VAT' in the previous financial year.

The decline in Operating Profit to Rs. 918.0 Mn from Rs. 1.9 Bn in 2013/14 was largely attributed to this impact. The ad-hoc VAT policy has far-reaching implications on smallholder farmers and your company is continuously engaging with policy makers to reach consensus on applying the policy in a manner that would stimulate growth in local agricultural produce.

During the fourth quarter the equity investment into the Retail Sector by IFC was completed with the latter subscribing to an 8% stake of the business at a pre-equity valuation of approximately Rs. 30 Bn. In this regard a contingent liability valued at Rs. 1.9 Bn is booked under Group equity.
The FMCG Sector has returned an impressive performance during the year with a turnover growth of 15.6% over the previous financial year to reach Rs. 12.4 Bn.

The Confectionaries business reached EBITDA positive during the year, with a significant turnaround in the 2nd half of 2014/15 attributable to strengthening the management team and enhancing efficiency and productivity of the facility.
The Restaurants business stabilized during the quarter under review with the KFC franchise returning to profit during the last 4 months of the year while TGI Fridays is yet to turnaround. 
Courtesy: Daily News 04 June 2015

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum