Access Engineering has posted growth its interim financial statements for the first quarter ended June 30, 2016, recently.
As per the results the Company has concluded the first quarter with solid performance creating more value to its multifaceted stakeholders.
At a Group level cumulative revenue for the quarter was recorded at Rs. 4.6 billion, a growth of approximately 10.5% over the previous corresponding period. At a Company level this was recorded at Rs. 2.9 bn, a marginal growth of 0.2% over the corresponding period.
The production of construction related material generated a revenue of Rs. 417 mn, up by 109.8% over the previous period after the elimination of inter-segment revenue.
Gross profit margin for the quarter was 23.8% and 25.5% respectively at Group and Company level. Net profit attributable to owners of the Company was Rs. 524 mn and 425 mn respectively at Group and Company level, a decline of 12.6% and 13.9%.
Income tax expenses of the Company rose by 232.3% to record at Rs. 200.9 mn mainly on account of the revised corporate tax rate of 17.5% on construction activities and a one-off tax adjustment.
Total Comprehensive Income After Tax for the Group and the Company for the first quarter recorded at Rs. 532.9 mn and Rs. 425.8 mnn is a decline of 16.6% & 14.1% respectively.
www.dailynews.lk
As per the results the Company has concluded the first quarter with solid performance creating more value to its multifaceted stakeholders.
At a Group level cumulative revenue for the quarter was recorded at Rs. 4.6 billion, a growth of approximately 10.5% over the previous corresponding period. At a Company level this was recorded at Rs. 2.9 bn, a marginal growth of 0.2% over the corresponding period.
The production of construction related material generated a revenue of Rs. 417 mn, up by 109.8% over the previous period after the elimination of inter-segment revenue.
Gross profit margin for the quarter was 23.8% and 25.5% respectively at Group and Company level. Net profit attributable to owners of the Company was Rs. 524 mn and 425 mn respectively at Group and Company level, a decline of 12.6% and 13.9%.
Income tax expenses of the Company rose by 232.3% to record at Rs. 200.9 mn mainly on account of the revised corporate tax rate of 17.5% on construction activities and a one-off tax adjustment.
Total Comprehensive Income After Tax for the Group and the Company for the first quarter recorded at Rs. 532.9 mn and Rs. 425.8 mnn is a decline of 16.6% & 14.1% respectively.
www.dailynews.lk
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