Union Chemicals Lanka plc Announces Earnings Results for the Third Quarter and Nine Months Ended September 25, 2017
October 27, 2017 at 12:43 am IST
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Union Chemicals Lanka Plc announced earnings results for the third quarter and nine months ended September 25, 2017. For the quarter, the company reported revenue of LKR 166,978,000 as compared to LKR 183,834,000 for the same period last year. Results from operating activities was LKR 13,953,000 as compared to LKR 29,636,000 for the same period last year. Profit before tax was LKR 13,564,000 as compared to LKR 29,677,000 for the same period last year. Profit for the period was LKR 9,495,000 as compared to LKR 23,742,000 for the same period last year. Earnings per Share was LKR 6.33 as compared to LKR 15.83 for the same period last year.
For the nine months, the company reported revenue of LKR 516,245,000 as compared to LKR 564,167,000 for the same period last year. Results from operating activities was LKR 52,281,000 as compared to LKR 95,588,000 for the same period last year. Profit before tax was LKR 50,798,000 as compared to LKR 94,755,000 for the same period last year. Profit for the period was LKR 35,700,000 as compared to LKR 75,031,000 for the same period last year. Earnings per Share was LKR 23.80 as compared to LKR 50.02 for the same period last year. Net cash flows from operating activities was LKR 23,359,000 as compared to LKR 131,725,000 for the same period last year. Purchase & construction of property, plant and equipment was LKR 16,429,000 as compared to LKR 50,964,000 for the same period last year.
Union Chemicals Lanka PLC is a Sri Lanka-based chemicals manufacturing and trading company. The Company is engaged in manufacturing and trading of waterborne polymer, adessive, coating and industrial chemicals. It also manufactures and markets a range of polyvinyl and acrylic emulsions for the paint and textile industries in Sri Lanka, and for industrial and domestic use as adhesives, as well as it indents, imports, and markets a range of products, such as specialties solvents, polyolefins, coating resins, surfactants, and personal care products. Its products include binders for emulsion paints, paint additives, alkyd resins, solvents and surfactants, pigments, silicone products and wood coatings. Its adhesive products include R160M, SL5112A, R160S, SL160L, A2017L, A2017R and A4020D, and others. Its other products include monoethanolamine and ethylenediaminetetraacetic acid. It supplies chemical products to paints, inks, packaging, detergents, and pharmaceutical industries.