Royal Ceramics 1Q turnover tops Rs. 1.5 b

Wednesday, 3 August 2011 02:19 - - {{hitsCtrl.values.hits}}

Royal Ceramics Plc has got off to a good start in the 2012 financial year with its gross revenue crossing the Rs. 1.5 billion mark in the first quarter reflecting a healthy 19% increase.

As per provisional results released yesterday, Gross Revenue at Group level amounted to Rs. 1.52 billion, up from Rs. 1.28 billion in the first quarter of 2011 financial year. Net revenue also improved by 19% to Rs. 1.36 billion. Group gross profit saw a 15% growth to Rs. 592 million. RCL had enjoyed a lower other operating income of Rs. 122.3 million (mostly profit on sale of shares) as against Rs. 183 million in the first quarter of last year.

This led to pre-tax profit improving by only 3% to Rs. 392 million whilst profit attributable to equity holders rose by 2% to Rs. 391.4 million.

The June 30, 2011 accounts had not consolidated results of Lewis Brown and Company (the holding firm of Delmege Forsyth) in which RCL acquired 20% associate stake on June 16 for Rs. 621 million.

RCL Group assets amounted to Rs. 9.45 billion as at June 30, 2011, up from Rs. 8.4 billion as at end of 2010/11 financial year. Net asset per share was Rs. 47.12 at Group level up from Rs. 45.59 and Rs. 29.95 and Rs. 30.94 at company level between June 30, 2011 and March 31, 2011 respectively.