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    ECONOMYNEXT - Profits at listed Distilleries Company of Sri Lanka grew 88 percent from a year earlier to 1 billion rupees in the June 2018 quarter despite falling revenue as margins improved and borrowing costs fell sharply, interim accounts showed.

    Earnings amounted to 23 cents a share in the quarter, interim accounts filed with the stock exchange showed.

    The share closed unchanged at 20.50 rupees on Wednesday.

    Gross revenue in the quarter fell 10.1 percent to 19.2 billion rupees with net revenue after turnover related taxes like VAT and excise duties declining 4 percent to 6.4 billion rupees.

    Cost of sales fell 20 percent to 4.2 billion rupees leading to a 55 percent growth in gross profits of 2.2 billion rupees.

    Net finance costs fell 47 percent to 55 million rupees as borrowing fell to 2.9 billion rupees at end June 2018 from 8.3 billion rupees a year earlier.

    Distribution costs grew 22.7 percent to 147.4 million rupees and administrative expenses fell 1.3 percent to 219.8 million rupees. (COLOMBO, 16 August 2018)
    "The best values today are often found in the stocks that were once hot and have since gone cold"

  • #2
    The estimated public float of DIST post dividend in specie is at ~3.3%. Consequently, upon listing, there will be a sell down of a ~4.2% stake from major shareholder, MELS and/or related parties (Milford Holdings, Stassen) to meet the ~7.5% minimum public holding listing requirements. DIST has given an undertaking to the Securities and Exchange Commission (SEC) that it will comply with the requirement within a time frame agreed with the SEC

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    • #3
      Dist can give another interim Div soon. Demand surged from JANABALA

      https://www.gossiplankanews.com/2018/09/81.html

      Comment


      • #4
        Originally posted by prasa2004 View Post
        Dist can give another interim Div soon. Demand surged from JANABALA

        https://www.gossiplankanews.com/2018/09/81.html

        Aparade beer denna tibbe..LION..

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        • #5
          UNP Uncle Harry must be very happy.

          Comment


          • #6
            Originally posted by LukeDeSilva View Post
            The estimated public float of DIST post dividend in specie is at ~3.3%. Consequently, upon listing, there will be a sell down of a ~4.2% stake from major shareholder, MELS and/or related parties (Milford Holdings, Stassen) to meet the ~7.5% minimum public holding listing requirements. DIST has given an undertaking to the Securities and Exchange Commission (SEC) that it will comply with the requirement within a time frame agreed with the SEC
            Parent started sell off?

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            • #7
              Foreign selling began and one occasion there was one million selling on normal board.Don't even think of buying will be among next week top outflows along with LLUB.

              Comment


              • #8
                I was advice 12+ buy, when listed recently. May be it will materialize.

                Comment


                • #9
                  After initial IPO DIST stagnated around Rs.11-13 for a considerable period (nearly two years). Later it traded above Rs.300. Momentum could appear for stocks suddenly and unexpectedly. Therefore, according to some analysts you have to have stocks in your investment portfolio.

                  Comment


                  • #10
                    Finger Licking Good!
                    "The best values today are often found in the stocks that were once hot and have since gone cold"

                    Comment


                    • #11
                      DIST weightage is pulling the Index down and with that the market sentiment.

                      Time to forget the index and look at individual counters.

                      Comment

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