Ceylon Cold Stores records 20% rise in PBT

Monday, 2 June 2014 00:00 - - {{hitsCtrl.values.hits}}

Ceylon Cold Stores PLC released its Interim Results for the fourth quarter and 12 months ended 31 March 2014. The consolidated recurring profit before tax (PBT) for the financial year 2013/14 of Rs.1.11 billion was a 20% increase over the Rs.926 million recorded in the previous financial year. The recurring PBT for 2013/14 excludes the fair value gain on investment property of Rs.72 million [2012/13: Rs.1.28 billion] and the gain of Rs.366 million arising from the lease rights foregone due to the transfer of land held by the Company to Waterfront Properties Ltd. The recurring profit after tax (PAT) of Rs.780 million represented an increase of 34% in comparison to the Rs. 581 million recorded in the previous financial year. The consolidated revenue for the financial year 2013/14 was Rs. 23.61 billion, this being an increase of 6% over the Rs.22.25 billion recorded in the previous financial year. The profit before tax (PBT) was Rs.1.55 billion.

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