Union Chemicals Lanka Plc Reports Audited Earnings Results for the Fourth Quarter and Year Ended December 25, 2013
January 28, 2014
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Union Chemicals Lanka Plc reported audited earnings results for the fourth quarter and year ended December 25, 2013. For the quarter, the company reported revenue from continuing operations of LKR 175,384,000 compared to LKR 160,760,000 a year ago. Results from operating activities were LKR 22,547,000 compared to LKR 16,888,000 a year ago. Profit before tax was LKR 21,113,000 compared to LKR 13,501,000 a year ago. Profit for the year was LKR 15,899,000 compared to LKR 10,926,000 a year ago. Earnings per share were LKR 10.60 compared to LKR 7.28 a year ago.
For the year, the company reported revenue from continuing operations of LKR 618,212,000 compared to LKR 645,276,000 a year ago. Results from operating activities were LKR 66,604,000 compared to LKR 85,605,000 a year ago. Profit before tax was LKR 53,564,000 compared to LKR 61,952,000 a year ago. Profit for the year was LKR 40,095,000 compared to LKR 44,701,000 a year ago. Earnings per share were LKR 26.73 compared to LKR 29.80 a year ago. Net cash flows from operating activities were LKR 88,139,000 compared to LKR 81,190,000 a year ago. Purchase & construction of property, plant and equipment was LKR 5,779,000 compared to LKR 75,820,000 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.