Palm Garden Hotels PLC Announces Unaudited Group and Company Earnings Results for the Quarter Ended June 30, 2017
August 16, 2017 at 12:44 am IST
Share
Palm Garden Hotels PLC announced unaudited group and company earnings results for the quarter ended June 30, 2017. For the quarter, on group basis the company reported revenue of LKR 223,315,000 as compared to LKR 160,616,000 for the same period last year. Profit before operating expenses was LKR 172,512,000 as compared to LKR 113,036,000 for the same period last year. Loss from operating activities was LKR 82,719,000 as compared to LKR 61,222,000 for the same period last year. Loss before income tax expense was LKR 260,762,000 as compared to LKR 147,069,000 for the same period last year. Loss for the period was LKR 260,762,000 as compared to LKR 147,069,000 for the same period last year. Loss attributable to equity holders of the company was LKR 131,315,000 as compared to LKR 80,018,000 for the same period last year. Loss per share based on PAT was LKR 3.03 as compared to LKR 1.85 for the same period last year. Net cash used in operating activities was LKR 662,112,000 as compared to net cash from operating activities of LKR 189,794,000 for the same period last year. Acquisition of property, plant and equipment was LKR 356,350,000 as compared to LKR 437,816,000 for the same period last year.
For the quarter, on company basis the company reported profit before operating expenses was LKR 410,000 as compared to LKR 57,000 for the same period last year. Loss from operating activities was LKR 379,000 as compared to LKR 798,000 for the same period last year. Loss before income tax expense was LKR 37,533,000 as compared to LKR 22,072,000 for the same period last year. Loss for the period was LKR 37,533,000 as compared to LKR 22,072,000 for the same period last year. Loss attributable to equity holders of the company was LKR 37,533,000 as compared to LKR 22,072,000 for the same period last year. Loss per share based on PAT was LKR 0.87 as compared to LKR 0.51 for the same period last year. Net cash used in operating activities was LKR 764,000 as compared to LKR 310,000 for the same period last year.
Palm Garden Hotels Plc is a Sri Lanka-based company. The principal activity of the Company is carrying on the business of hotelier. The Company operates its hoteliering and hotel management business, through its subsidiaries, which include Eden Hotel Lanka PLC, Dickwella Resorts (Pvt) Ltd, Riverina Resorts (Pvt) Ltd, Sun and Fun Resorts Limited, Green Paradise (Pvt) Ltd, Serendib Hotels PLC, Dolphin Hotels PLC, Hotel Sigiriya PLC, Serendib Leisure Management Ltd, Sanctuary Resorts Lanka (Pvt) Ltd, Frontier Capital Lanka (Pvt) Ltd, Bodufaru Beach Resorts (Pvt) Ltd, Browns Ari Resort (Pvt) Ltd, Browns Raa Resort (Pvt) Ltd and Browns Kaafu N Resort (Pvt) Ltd. The Company, through its subsidiaries, has operations in Kalowamodara, Aluthgama; Batheegama, Dickwella; Moragalle, Beruwala; Kubukkadanwala, Dambulla; Waikka; Sigiriya; Colombo; Mirissa, Matara and the Republic of Maldives.