Lanka Walltile profits record Rs. 374 million
COMPANY RESULT: Lanka Walltile Limited (LWL) registered a
nine-months un-audited group profit after tax of Rs. 374 million as at
December 31, 2006. This reflects a 54% increase against the same period
for last year.
The quarter ending December 31, 2006 realised a Group Profit after
tax (un-audited) of Rs. 107.8 million as against Rs. 106.4 million for
the same period in 2006.
The company’s nine month un-audited after tax profit for the period
ending 31st December 2006 was Rs. 65 million as against Rs. 73.9 million
last year and the quarter ending 31st December 2006 figure was Rs. 82
million against Rs. 34.1 million for the same quarter in 2005.
The basic earnings per share reflected by this increased earnings
(un-audited) for the nine-month period is Rs. 6.55 as against Rs. 4.80
in 2005.
Revenue of the LWL group soared by 18% for the period under review to
Rs. 4.1 billion (un-audited) from Rs. 3.5 billion in 2005.
“The construction industry in the rest of the country still looks
good despite the uncertainty created by fighting in the North ad East,
which has effectively blocked out any building activity of note in those
areas” Managing Director of LWL, Lucky de Chickera said .
“We are extremely hopeful of a very strong fourth quarter which
should see the Company growing its sales volumes to intensively high
levels”he said.
To meet these increasing demands in the country, LWL is contemplating
an expansion scheme for its Meepe factory and given feasibility studies
it is very likely that the company will venture into the expansion
shortly. |
