Union Chemicals Lanka Plc Reports Earnings Results for the Second Quarter and Six Months Ended June 25, 2017
July 26, 2017 at 03:10 pm EDT
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Union Chemicals Lanka Plc reported earnings results for the second quarter and six months ended June 25, 2017. For the quarter, the company reported revenue of LKR 151,082,000 against LKR 152,328,000 a year ago. Results from operating activities were LKR 11,758,000 against LKR 23,350,000 a year ago. Profit before tax was LKR 11,149,000 against LKR 22,906,000 a year ago. Profit for the period was LKR 7,660,000 against LKR 18,897,000 a year ago. Earnings per share were LKR 5.11 against LKR 12.60 a year ago.
For the six months, the company reported revenue of LKR 349,266,000 against LKR 380,333,000 a year ago. Results from operating activities were LKR 38,327,000 against LKR 65,952,000 a year ago. Profit before tax was LKR 37,233,000 against LKR 65,078,000 a year ago. Profit for the period was LKR 26,204,000 against LKR 51,290,000 a year ago. Earnings per share were LKR 17.47 against LKR 34.19 a year ago. Net cash flows from operating activities were LKR 1,590,000 against LKR 88,925,000 a year ago. Purchase & construction of property, plant and equipment was LKR 4,297,000 against LKR 35,663,000 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.