Odel PLC has posted sales of Rs 4.6 billion for 2013-14, a marginal 1.5 per cent growth over 2012-13.
Filing its income statements with the CSE, Sri Lanka’s premier fashion and lifestyle retailer reported operating profit of Rs 332 million for the 12 months ending 31st March 2014, an increase of 7.6 percent, with Other Income of Rs 225 million, principally from the investment of proceeds of the company’s December 2012 Rights Issue.
The Group said finance costs reduced by 25 per cent to Rs 120 million, enabling profit before tax of Rs 216.8 million, which was down 6 per cent over the previous year.
Net profit for the year was Rs 192.5 million, an improvement of 22 per cent.
In the year reviewed, the company opened three new stores -- a ‘Luv SL’ store at Negombo, an Odel store at K-Zone Ja-Ela and the largest ‘Luv SL’ store in the country inside the Galle Fort. The company also refurbished and upgraded its Nugegoda store and re-designed and re-launched its store at the Bandaranaike International Airport (BIA).
Filing its income statements with the CSE, Sri Lanka’s premier fashion and lifestyle retailer reported operating profit of Rs 332 million for the 12 months ending 31st March 2014, an increase of 7.6 percent, with Other Income of Rs 225 million, principally from the investment of proceeds of the company’s December 2012 Rights Issue.
The Group said finance costs reduced by 25 per cent to Rs 120 million, enabling profit before tax of Rs 216.8 million, which was down 6 per cent over the previous year.
Net profit for the year was Rs 192.5 million, an improvement of 22 per cent.
In the year reviewed, the company opened three new stores -- a ‘Luv SL’ store at Negombo, an Odel store at K-Zone Ja-Ela and the largest ‘Luv SL’ store in the country inside the Galle Fort. The company also refurbished and upgraded its Nugegoda store and re-designed and re-launched its store at the Bandaranaike International Airport (BIA).
http://www.cse.lk/cmt/upload_report_file/960_1401445968175.pdf
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