Ceylon Grain Elevators profits slide 12%

16.02.2018

Sri Lanka’s Ceylon Grain Elevators, a feed milling firm and poultry processing group saw profits fall 12% in the December quarter of 2017. This was amid a higher tax charge despite better margins at the core feed milling unit after getting a maize import permit. The company reported earnings of USD 0.04 per share in the quarter. In the year to end December 2017, it reported earnings of USD 0.09 a share on a total profit of USD 5.1 million, down 40.7% from a year ago.

“Performance was curtailed by the shortage of raw materials due to adverse weather and unavailability of an import permit for maize,” the company told shareholders in interim accounts filed with the Colombo Stock Exchange.


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