Distilleries Company of Sri Lanka sees revenue pick up

May 31, 2014 (LBO) - Distilleries Company of Sri Lanka, the island's largest alcohol maker which was hit by tax hikes and incomes decimated from currency depreciation, reported a small increase in gross revenues in the March 2014 quarter. DCSL said revenues with taxes rose 1.

8 percent to 12.9 billion rupees in the March 2014 quarter from a year earlier. In the nine months to December, gross revenues dropped 7.



8 percent to 35.7 billion rupees from a year earlier.

Gross revenues with taxes were also up from the December quarter's 12.

09 billion rupees, when revenues fell 7.7 percent from a year earlier.

Revenues after taxes for the March 2014 quarter were still down 6.

74 percent from a year earlier to 4.1 billion rupees and are also still below the December quarter's 4.



2 billion rupees.

At group level, Distilleries which has interests in plantations, insurance and telecom said net revenues were down 4.

8 percent to 7.2 billion rupees but costs and claims fell at a faster 14.

9 percent 4.3 billion rupees.

This allowed gross profits to rise 15.

7 percent to 2.9 billion rupees.

The group reported investment income of 570 million rupees, up 15.

7 percent from a year earlier, but there was a 930 million charge classified as