By J. Kurukulasuriya
Ceylon Finance Today: Lanka Ashok Leyland's profits for the six months ended 30 September as compared to the 2013/14 financial year were virtually unchanged at Rs 82.0 million – Rs 82.7 million in the prior year.
The company's sales are from – new vehicle sales, diesel generator set sales, vehicle repair income, spare parts sales and local agency commissions. New vehicle sales consist of 94% of the company's income.
The company's net finance costs were down by 76% from Rs 222 million to just
Rs 56 million due to the prevailing low interest regime. Although profit before tax was up 45% to Rs 161 million, income tax was higher resulting in a bottom line of
Rs 82.05 million.
The company's strong balance sheet shows a Stated Capital of Rs 49 million, backed by accumulated reserves of Rs 887 million, and large accumulated profits of Rs 1,551 million on 30 September.
The shares traded at between a high of Rs 1,900 and low of 1,400 between July and September. None of the directors hold shares of the company.
Lanka Leyland holds 41% of the share capital, and Ashok Leyland 28%. L. S. I. Perera holds 15%. The public share holding — 552 shareholders — hold 2.68%.
www.ceylontoday.lk
Ceylon Finance Today: Lanka Ashok Leyland's profits for the six months ended 30 September as compared to the 2013/14 financial year were virtually unchanged at Rs 82.0 million – Rs 82.7 million in the prior year.
The company's sales are from – new vehicle sales, diesel generator set sales, vehicle repair income, spare parts sales and local agency commissions. New vehicle sales consist of 94% of the company's income.
The company's net finance costs were down by 76% from Rs 222 million to just
Rs 56 million due to the prevailing low interest regime. Although profit before tax was up 45% to Rs 161 million, income tax was higher resulting in a bottom line of
Rs 82.05 million.
The company's strong balance sheet shows a Stated Capital of Rs 49 million, backed by accumulated reserves of Rs 887 million, and large accumulated profits of Rs 1,551 million on 30 September.
The shares traded at between a high of Rs 1,900 and low of 1,400 between July and September. None of the directors hold shares of the company.
Lanka Leyland holds 41% of the share capital, and Ashok Leyland 28%. L. S. I. Perera holds 15%. The public share holding — 552 shareholders — hold 2.68%.
www.ceylontoday.lk
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