ECONOMYNEXT - Profits at Sri Lanka's Asiri Hospital Holdings grew 1.8 percent from a year earlier to 392.8 million rupees in the June 2018 quarter on slower revenue growth, interim accounts showed.
The hospital group comprising four hospitals and a laboratory service, reported earnings of 35 cents a share in the quarter, interim results filed with the Colombo Stock Exchange showed.
The stock closed unchanged at 24.70 rupees on Monday.
In the June quarter, gross profit grew 3.6 percent from a year earlier to 1.4 billion rupees on revenue growing 4.5 percent to 3.1 billion rupees and cost of sales contracting 5.3 percent to 1.7 billion rupees.
Administrative costs fell 6.7 percent to 681.3 million rupees and net finance costs declined 7.4 percent to 201.4 million rupees.
Selling and distribution costs had fallen 12.7 percent to 98.4 million rupees.
The hospital group reported other incomes of 83.6 million rupees, up 122 percent from a year earlier while the share of profits from associate companies and joint ventures surged 116 percent to 1.3 million rupees.
The group reported a 31.9 million rupee loss on revaluation of financial assets in the June quarter, compared to a 11 million rupee gain the previous year.
The group reported an outstanding commitment of 1.4 billion rupees for a new hospital under construction in Kandy.
The hospital group is controlled by listed Softlogic Holdings which held a 44.39 percent stake as at end June 2018, followed by TPG Growth Fund holding 28.86 percent.
-Asiri Surgical-
Asiri Surgical, a listed hospital under Asiri Hospital Holdings saw profits decline 35.6 percent from a year earlier to 52.7 million rupees in the June quarter, reporting earnings of 10 cents a share.
The share last traded at 10.30 rupees.
Gross profits in the June quarter declined 0.3 percent from a year earlier to 285.6 million rupees.
Revenue had declined 3 percent in the quarter to 779.4 million rupees while cost of sales grew 4.4 percent to 493.8 million rupees.
The hospital group comprising four hospitals and a laboratory service, reported earnings of 35 cents a share in the quarter, interim results filed with the Colombo Stock Exchange showed.
The stock closed unchanged at 24.70 rupees on Monday.
In the June quarter, gross profit grew 3.6 percent from a year earlier to 1.4 billion rupees on revenue growing 4.5 percent to 3.1 billion rupees and cost of sales contracting 5.3 percent to 1.7 billion rupees.
Administrative costs fell 6.7 percent to 681.3 million rupees and net finance costs declined 7.4 percent to 201.4 million rupees.
Selling and distribution costs had fallen 12.7 percent to 98.4 million rupees.
The hospital group reported other incomes of 83.6 million rupees, up 122 percent from a year earlier while the share of profits from associate companies and joint ventures surged 116 percent to 1.3 million rupees.
The group reported a 31.9 million rupee loss on revaluation of financial assets in the June quarter, compared to a 11 million rupee gain the previous year.
The group reported an outstanding commitment of 1.4 billion rupees for a new hospital under construction in Kandy.
The hospital group is controlled by listed Softlogic Holdings which held a 44.39 percent stake as at end June 2018, followed by TPG Growth Fund holding 28.86 percent.
-Asiri Surgical-
Asiri Surgical, a listed hospital under Asiri Hospital Holdings saw profits decline 35.6 percent from a year earlier to 52.7 million rupees in the June quarter, reporting earnings of 10 cents a share.
The share last traded at 10.30 rupees.
Gross profits in the June quarter declined 0.3 percent from a year earlier to 285.6 million rupees.
Revenue had declined 3 percent in the quarter to 779.4 million rupees while cost of sales grew 4.4 percent to 493.8 million rupees.
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