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Group net turnover for the 2nd quarter 2012 was Rs.311.7Mn as compared to Rs.304.7Mn during the 2nd quarter 2011, an increase of Rs.7Mn or 2%. Group net turnover for the 1st half of 2012 was Rs.628.3Mn as compared to Rs.636.2Mn during the 1st half of 2011, a decrease of Rs.7.9Mn or 1%.
Group has reported a net loss of Rs.0.37Mn for the 2nd quarter 2012 as compared to the net profit of Rs.3.03Mn reported in the 2nd quarter 2011.The group has reported a net profit of Rs.64.4Mn for the 1st half of 2012 as compared to net profit of Rs.44.3Mn reported in the 1st half of 2011.
Due to the lower egg prices in the market the demand for Layer Day Old Chicks (DOC) dropped significantly during the period under review and the company was compelled to reduce the selling prices of Layer DOC. With the increase in all input costs and no revision to the control price of the end product processed chicken, the demand for Broiler DOC also reduced during the 2nd quarter 2012 which resulted in a marginal net loss for the period under review. In order to minimize the losses, the Management has taken necessary steps to curtail the production by culling parent birds earlier.
The Company and the Group have followed the same accounting policies and methods of computation as disclosed in the Annual Report for Financial year ended 31st December 2011.
There have been no other events subsequent to the interim period which require disclosure in the interim Financial Statements.
Source: http://www.cse.lk/cmt/upload_report_file/491_1343382300871.pdf
Group has reported a net loss of Rs.0.37Mn for the 2nd quarter 2012 as compared to the net profit of Rs.3.03Mn reported in the 2nd quarter 2011.The group has reported a net profit of Rs.64.4Mn for the 1st half of 2012 as compared to net profit of Rs.44.3Mn reported in the 1st half of 2011.
Due to the lower egg prices in the market the demand for Layer Day Old Chicks (DOC) dropped significantly during the period under review and the company was compelled to reduce the selling prices of Layer DOC. With the increase in all input costs and no revision to the control price of the end product processed chicken, the demand for Broiler DOC also reduced during the 2nd quarter 2012 which resulted in a marginal net loss for the period under review. In order to minimize the losses, the Management has taken necessary steps to curtail the production by culling parent birds earlier.
The Company and the Group have followed the same accounting policies and methods of computation as disclosed in the Annual Report for Financial year ended 31st December 2011.
There have been no other events subsequent to the interim period which require disclosure in the interim Financial Statements.
Source: http://www.cse.lk/cmt/upload_report_file/491_1343382300871.pdf
