By J. Kurukulasuriya
Ceylon FT: C. W. Mackie PLC, a major exporter of crepe, industrial crepe rubber, desiccated coconut and spices, and dealer in light industrial products, released its interim results to 31December 2013, showing a 10% rise in group profits for nine months to Rs 138 million, despite turnover falling by 10% to Rs 4,948 million, against the corresponding period.
Fifty-three per cent of the group's revenue came from consumer goods, 25% from commodity trading, and 15% from manufacture of rubber products. Consumer goods was also the main profit contributor, providing 63% of the profit. The company's finance income fell by more than Rs 27 million. Tax expenses fell by 19% to Rs 40 million.
The acid test ratio of the group accounts stood at 1.4, and quick assets ratio at 2.0. Gross profit ratio was 13%. The company has a stated capital of Rs 507 million. The stated capital of the company represents 35,988,556 ordinary shares with a public holding as at 31 December 2013 of 11.17%. In the three month period to 31 December the shares traded between Rs 65.40 and Rs 51.10.
Lankem Ceylon PLC is the single largest shareholder with 34%, and Seylan Bank PLC/Dr T. Senthilverl, who is also a director, holds 30%.The Employees Provident Fund is also a significant shareholder with 139,000 shares.
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