Tokyo Cement profits soar

Tokyo Cement group posted 25 percent higher net profits for the June 2008 quarter, compared to the same 2007 period, unaudited results showed.

Tokyo Cement Company Lanka profits increased to Rs. 212.4 million from Rs. 170.3 million a year back. Revenue for the June quarter increased 30 percent to Rs. 3,909 million.

Group finance cost was up 62 percent Rs. 151.5 million. At company level, profits were up three percent to Rs. 77 million while revenue increased 29 percent to Rs. 1,392 million during the period under review. The total assets stood at Rs. 12,062 million. Tokyo Cement Company's earnings per share had increased to Rs. 7.87 in June 2008, from Rs. 6.31 one year ago.

The company has a cement grinding mill and bagging plant in the eastern port of Trincomalee in a joint venture with Japan's Mitsui.