Be the First to Know

lanka matrimony

Lankem Ceylon records profit of Rs. 958 Mn

0 87
Managing Director  Suren Goonewardene
Managing Director Suren Goonewardene

Lankem Ceylon PLC, as a Group posted a noteworthy second quarter (Q2) results which was a 73% growth compared to the 1st quarter of 2022/23 and a total change over compared to the LKR 19 Mn loss made in Q2 of the last financial year (2021/2022).

Q2 revenue was LKR 8.3 Bn which was a 58% growth compared to the same period last year whilst Gross Profit (GP) for the said period was LKR 2.7 Bn, a 210% growth compared to the LKR 882 Mn achieved during the same period.

During the quarter under review, PBT was LKR 1.15 Bn, a 4046% growth compared to the corresponding quarter in the previous year.

From a level of breakeven during the financial year 2021/22 to profitability in six months, the Group recorded a net profit of LKR 1.5 Bn for the first half (H1) of 2022/23 when compared to the loss of LKR 91 Mn incurred during the corresponding period.

Group revenue in the first half stood at LKR 15.9 Bn, a 64% increase, when compared to the LKR 9.7 Bn, achieved during the same period last year.

Further, the Group achieved a Gross Profit (GP) of LKR 5.1 Bn which was a 198% compared to LKR 1.7 Bn achieved for the first half of the financial year 2022/2023.

The PBT for Lankem Ceylon as a Group was LKR 1.85 Bn, a commendable achievement when compared to the loss of LKR 4 Mn incurred during the H1 of the previous financial year 2021/22.

From a Q2 perspective, Lankem Ceylon PLC as a Company posted revenue was at LKR 1.7 Bn, an increase of 83% in the comparative period of last year. The Company’s PBT achieved was LKR 880Mn, an increase compared to the LKR 132 Mn achieved, whilst net profit for the said period was LKR 879 Mn for the quarter, which was an increase of 568% against the last year.

A successful Q2, resulted in the Company posting cumulative revenue of LKR 3 Bn, an 81% growth for the H1 under review compared to LKR 1.7 Bn achieved last year for the same period. After a gap of nine years, the Company made a significant contribution to the Group’s bottom line by achieving a net profit of LKR 1 Bn in H1 of the year, a 1,232% growth compared to LKR 77 Mn.

The Consumer cluster of the Group which comprise of C.W. Mackie PLC almost doubled their revenue during the first half of 2022/23 in comparison to the previous period to achieve LKR 3.6 Bn. The cluster further reported an operating profit of LKR 702 Mn.

 

 

Tuesday, November 15, 2022 – 01:00











Leave A Reply

Your email address will not be published.