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12 January, 2011 09:48 AM Source: Lanka Business Online - LBO
Royal Ceremic.jpg

Sri Lanka's Royal Ceramics group kicking off the earnings season, said net profits for the December quarter were up 12.7 percent to 412.8 million rupees, while revenues grew 20.7 percent to 1,872 million rupees.

For the nine months to December 2010, profits were up 59 percent to 1,019 million rupees on revenues which grew 36 percent to 4.7 billion rupees.

The first two quarters had 192 million rupees in other income some of which came from the sale of shares of LB Finance, analysts said.

The firm makes 'Rocell' brand tiles and bathware.

The firm reported 7.45 rupees on earnings per share for the quarter (18.40 rupees for the 9 months) based on a shares in issue of 55.3 million.

But from January 10 the Royal Ceramics is capitalizing 553 million rupees to issue a fresh tranche of 55.3 million rupees, halving earnings per share.

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