Ceylon Cold Stores Sept quarter net profit falls 10-pct to Rs1.22bn

EconomyNext reports that Ceylon Cold Stores recorded net profit attributable to equity holders of Rs. 1.22 billion for the quarter ended September 30, compared with Rs. 1.35 billion in the same period a year earlier. Basic earnings per share fell to Rs. 1.28 from Rs. 1.42.

EconomyNext reports that quarterly revenue rose 17.2% to Rs. 52.71 billion from Rs. 44.95 billion, with growth in supermarket retail and manufacturing. Cost of sales increased 18.8% to Rs. 45.96 billion, reducing gross margin to 12.8% from 13.9%; gross profit nevertheless rose 7.7% to Rs. 6.74 billion.

EconomyNext reports that supermarket external revenue increased 17.3% to Rs. 41.63 billion, while the segment’s profit fell 33.2% to Rs. 369.16 million. It attributes pressure to higher finance costs, store depreciation and operating overheads; supermarket finance costs were Rs. 631.75 million.

EconomyNext reports that manufacturing external revenue, including beverages and frozen confectionery under the Elephant House brand, climbed 17.1% to Rs. 11.07 billion. Operating results increased 8.9% to Rs. 2.21 billion, but post-tax profit declined 3.1% to Rs. 1.60 billion amid higher finance expenses.

EconomyNext reports that group operating profit edged up 1.4% to Rs. 2.75 billion, while administrative expenses rose 24.4% to Rs. 2.11 billion. Net finance costs increased 38.7% to Rs. 837.66 million, which the outlet links to expanded short-term borrowings and bank overdrafts; pre-tax profit fell 9.4%. Income tax expense declined 8.3%, according to EconomyNext.

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.