Cargills Ceylon Sept quarter net profit rises 9.4-pct to Rs3.0bn

EconomyNext reports Cargills (Ceylon) PLC earned Rs. 3.01 billion in group net profit for the three months ending September 30, compared with Rs. 2.75 billion in the corresponding period a year earlier. Basic earnings per share reached Rs. 11.80, up from Rs. 10.83, according to the interim accounts described by the outlet.

EconomyNext reports the group’s revenue climbed 16.2% to Rs. 76.29 billion, supported by increased volumes across its retail, FMCG and restaurant operations. Retail sales contributed Rs. 54.77 billion, a 14.7% increase; Food City supermarkets recorded 13.2% same-store sales growth. EconomyNext attributes retail gains to more customers and larger average purchases, alongside inflation-related adjustments. It says the store network expanded to 564 after four openings in the quarter.

EconomyNext reports FMCG revenue advanced 20.4% to Rs. 17.44 billion, with volume increases across major categories and selected price changes to address costs. Operating profit for the division rose 27.4% to Rs. 2.61 billion, which the outlet links to product mix and continued cost efficiencies.

EconomyNext reports restaurant revenue rose 19% to Rs. 4.07 billion, alongside same-store sales growth of 17.4%. KFC added six locations, bringing its total to 97, according to the outlet. Restaurant operating profit fell 4% to Rs. 685.4 million; EconomyNext says management restrained menu price increases to maintain affordability as operating expenses rose.

EconomyNext reports group cost of sales increased 16.2% to Rs. 66.40 billion, while gross profit gained 15.9% to Rs. 9.89 billion. Results from operating activities rose 13.6% to Rs. 5.59 billion. The outlet says distribution expenses increased 20.3%, tempering operating-profit growth; the supplied report does not provide further detail.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.