Distilleries Company of Sri Lanka sees revenue pick up

The Hapag-Lloyd delegation including, Capt. Prateek Gandhi – Director Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Faheem Mir – Manager - Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Lalith Witanachchi – Vice President, Hapag-Lloyd Lanka (Pvt) Ltd, Mr. Mindaka Dassanayake – General Manager, Hapag-Lloyd Lanka (Pvt) Ltd.,Mr. Rohan Ranasinghe – Terminal Operations Manager, Hapag-Lloyd AG and Mr. Iqram Cuttilan – Managing Director, Aitken Spence Shipping Ltd poses for a pic with SLPA’s Chairman -Admiral Sirimewan Ranasinghe and the Managing Director - Eng. Ganaka Hemachandra. SLPA's Vice Chairman - Eng. Herath M.P. Jayawardhana, Director (Operations) - Mrs. G. Zavia Miskin and Director (Marketing and BD) - Mr. H J K U Kumara are also present.

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.

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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.

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8 percent to 35.7 billion rupees from a year earlier.

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

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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.

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

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2 billion rupees.

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

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

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9 percent 4.3 billion rupees.

This allowed gross profits to rise 15.

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7 percent to 2.9 billion rupees.

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

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