Union Chemicals Lanka plc Reports Earnings Results for the Second Quarter and Six Months Ended June 25, 2014
July 22, 2014 at 11:36 pm IST
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Union Chemicals Lanka Plc reported earnings results for the second quarter and six months ended June 25, 2014. For the quarter, the company reported revenue of LKR 137,484,000 against LKR 126,098,000 a year ago. Results from operating activities were LKR 11,227,000 against LKR 9,037,000 a year ago. Profit before tax was LKR 10,572,000 against LKR 4,116,000 a year ago. Profit for the year was LKR 7,500,000 or LKR 5.00 earnings per share against LKR 2,619,000 or LKR 1.75 earnings per share a year ago.
For the six months, the company reported revenue of LKR 343,578,000 against LKR 299,513,000 a year ago. Results from operating activities were LKR 38,547,000 against LKR 25,005,000 a year ago. Profit before tax was LKR 36,992,000 against LKR 15,834,000 a year ago. Profit for the year was LKR 24,062,000 or LKR 16.04 earnings per share against LKR 12,017,000 or LKR 8.01 earnings per share a year ago. Net cash flows from operating activities were LKR 13,266,000 against LKR 2,894,000 a year ago. Purchase & construction of property, plant and equipment was LKR 8,281,000 against LKR 5,153,000 a year ago.
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.