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| Thursday, 25 September 2003 |
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Tokyo Cement ups 1Q profits by 38% to Rs. 81.3 m Sri Lanka's fast expanding and sustainable cement manufacturer, Tokyo Cement Company Ltd., has increased its net profit attributable to ordinary shareholders by a healthy 38% to Rs. 81.3 million in the first quarter of 2003/4 financial year compared with the corresponding period of last year. As per provisional results, Tokyo Cement's consolidated after-tax profit was Rs. 70.6 million, up by 40% from Rs. 50 million in the first quarter of 2002/3 financial year. Pre-tax profit grew from rs. 53.8 million to Rs. 72.8 million in the first three months ended June 30, 2003. The significant improvement in the bottom line has been possible due to a 14% growth in consolidated turnover to Rs. 1.16 billion from Rs. 1.02 billion in the first quarter of 2002/3 financial year. Tokyo Cement Group, which markets premium quality Mitsui brand of cement as well as Atlas and Samudra brands, however saw a 18% increase in cost of sales (higher sales was a factor coupled with inflation). |
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