Lion Brewery (Ceylon) PLC reported earnings results for the first quarter ended June 30, 2014. For the quarter, the company reported revenue of LKR 6,895,266,000 compared to revenue of LKR 5,994,563,000 for the same period a year ago. Profit from operations was LKR 815,011,000 compared to LKR 476,079,000 last year.

Profit before taxation was LKR 741,989,000 compared to LKR 417,741,000 last year. Profit after taxation was LKR 487,878,000 or LKR 6.10 per share compared to LKR 287,696,000 or LKR 3.60 per share last year. Net cash generated from operating activities was LKR 860,899,000 compared to LKR 889,251,000 last year.

The turnover increased to 15% compared to last year. This was driven mainly by an increase in Excise Duty, which came in to effect during the second quarter of the previous financial year and a growth in tourist arrivals during the first quarter. The increase in profits was mainly a result of the company ceasing the import of canned beer.