Distilleries Company of Sri Lanka net down 4.4-pct

ECONOMYNEXT – Profits at Distilleries Company of Sri Lanka, the islands largest hard alcohol maker fell
4.4 percent to 2.88 billion rupees in the September quarter, interim accounts.

In Sri Lanka doctors and interventionists force authorities to ban alcohol sales during lockdowns.

Distilleries Company reported earnings of 55 cents per share for the quarter.

During the six months to September the firm reported earnings of 86 cents per share on total profits of 3.9 billion rupees, which were up 10.2 percent.

Revenues fell 18.6 percent to 20.7 billion rupees from a year earlier and net revenues not counting taxes fell 16 percent to 7.88 billion rupees.

Cost of sales fell 29 percent to 3.2 billion rupees and gross profits fell 3.4 percent to 4.6 billion rupees. (Colombo/Nov16/2021)

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