SwissTek Ceylon PLC has recorded a profit of Rs. 177.8 million for the quarter ended on 31 December 2020 compared to the profit of Rs. 63.8 million it made during the same period in the previous year.
The group for the first nine months ended on 31 December 2020 recorded a profit of Rs. 308.8 million compared to Rs. 127.12 million during the last nine months of the year 2019.
The group’s gross profit in the quarter was Rs. 370.19 million, while for the last nine months of the year it was Rs. 961.17 million, while the gross profit in the quarter that ended on 31 December 2019 and for the last three quarters of 2019 was Rs. 242.79 million and Rs. 749.35 million, respectively.
A part of the Lanka Walltiles Group, Swisstek (Ceylon) PLC is one of Sri Lanka’s leading suppliers of tile-related accessories such as tile grout, tile mortar, and tile sealant with an established track record of quality, variety, and innovation. In addition to the growing presence in the timber flooring segment, the group also enjoys a strong position in the aluminium extrusion market through subsidiary company Swisstek Aluminium Ltd.
The group revenue increased by 8% during the financial year (FY) 2019/2020 while Profit After Tax (PAT) amounted to Rs. 167.8 million compared to a profit of Rs. 0.75 million during the previous year. The significant improvement in performance was a validation of the strategic direction the group has embarked upon, according to the company. Consolidated revenue increased by 8% during the year to Rs. 4,635 million compared to the growth of 5% recorded in FY 2018/19. PAT at group level increased from Rs. 0.7 million in FY 2018/19 to Rs. 167.8 million in FY 2019/20 supported by a particularly strong performance by Swisstek (Ceylon) PLC.
SwissTek records Rs. 178 m profit in 4Q20
09 Feb 2021
SwissTek records Rs. 178 m profit in 4Q20
09 Feb 2021
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