Kelani Valley Plantations PLC Reports Group and Company Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017
January 26, 2018 at 11:07 am
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Kelani Valley Plantations PLC reported group and company earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, on group basis, the company reported revenue of LKR 1,876.038 million compared to LKR 1,629.466 million a year ago. Profit from operating activities was of LKR 144.409 million compared to LKR 69.077 million a year ago. Profit before tax was LKR 50.987 million compared to loss before tax of LKR 26.842 million a year ago. Profit attributable to equity holders of the parent was of LKR 26.771 million or LKR 0.79 per diluted share compared to loss attributable to equity holders of the parent was LKR 39.556 million or LKR 1.16 loss per diluted share a year ago.
For the nine months, on group basis, the company reported revenue of LKR 6,374.300 million compared to LKR 4,740.557 million a year ago. Profit from operating activities was of LKR 341.224 million compared to loss of LKR 141.922 million a year ago. Profit before tax was LKR 67.438 million compared to loss before tax was LKR 313.741 million a year ago. Profit attributable to equity holders of the parent was of LKR 4.188 million or LKR 0.12 per diluted share compared to loss attributable to equity holders of the parent was LKR 295.685 million or LKR 8.70 per diluted share a year ago. Cash generated from operating activities was LKR 788.822 million compared to cash used in operating activities of LKR 80.227 million a year ago. Acquisition of property, plant and equipment was of LKR 81.990 million compared to LKR 92.297 million a year ago.
For the quarter, on company basis, the company reported revenue of LKR 953.635 million compared to LKR 790.473 million a year ago. Profit from operating activities was of LKR 107.200 million compared to LKR 57.579 million a year ago. Profit before tax was LKR 71.162 million compared to loss of LKR 18.052 million a year ago. Profit was of LKR 53.862 million or LKR 1.58 per basic and diluted share compared to loss of LKR 6.301 million or LKR 0.19 per diluted share a year ago.
For the nine months, on company basis, the company reported revenue of LKR 3,129.405 million compared to LKR 2,294.878 million a year ago. Profit from operating activities was of LKR 232.073 million compared to loss from operating activities was LKR 181.212 million a year ago. Profit before tax was LKR 126.330 million compared to loss before tax was LKR 285.125 million a year ago. Profit was of LKR 96.300 million or LKR 2.83 per basic and diluted share compared to loss of LKR 247.977 million or LKR 7.29 per diluted share a year ago. Cash generated from operating activities was LKR 384.891 million compared to cash generated from operating activities of LKR 153.501 million a year ago. Acquisition of property, plant and equipment was of LKR 18.344 million compared to LKR 68.079 million a year ago.
Kelani Valley Plantations PLC is a Sri Lanka-based company, which is engaged in producing and processing of tea and rubber. The Company operates through three segments: Tea, Rubber, and Others. The Company comprises of approximately 25 estates spanning three distinct agro-climatic regions spanning over 13,000 hectares of tea, rubber, coconut, cinnamon, and agro-forestry plantations. The Company comprises 25 estates spanning three distinct agro-climatic regions spread across 13,000 hectares of Tea, Rubber, Coconut, Cinnamon, and agro-forestry plantations. It also manufactures hand protection wears. Its up-country leafy tea includes BOP Dickoya, BOP Nuwara Eliya, BOPF Dickoya, BOPF Nuwara Eliya, PEK Nuwara Eliya, and others. Its lower country leafy tea includes FBOPF SP Low Grown, FBOPF1 Low Grown, OP Low Grown, OP1 Low Grown and PEKO Low Grown. The Company's rubber products include Sole Crepe, Latex Crepe, Centrifuged Latex, Scrap Crepe, Skim Crepe and Belt Cleaners.