4th August 2011, the Sunshine Holdings PLC published their Interim Financial statement of second quarter of 2011.
Financial review
The Performance
The Sunshine Holdings PLC Consolidates Income statement performance is where indicate the 12% improvement in the Revenue generated compare to the last year same period. The same time the cost of sales was increase by the 19% and lead to Profit reduction as Rs. 415 Million form Rs. 489 Million last year.
As the reduction of other incomes and appreciation of admin expenses and the selling and distributions lead to worst towards to made profit of Rs. 32.75 Million. The Sunshine Holdings PLC was generated profit of Rs. 225.90 Million in last year second quarter.
In overall the company’s Earnings per share has been reduce from 0.87 to 0.47 for the second quarter of 2011.
The Position
The company has a good balance between the Assets and liabilities and improves the assets Colum as better than last year positions. This leads to the better price of Net Assets Value per Share as Rs.17.91 compare to last year value of Rs. 14.65 per share.
The cash management was not adequate management between improvements of the Assets Colum may lead to the cash flow problems in future, if the company able to manage the cashfolw without touching their Deposits of Rs.520 Million the company can show flying colors.
Source:
Interim Financial statement: http://www.cse.lk/cmt/upload_report_file/510_1312450846698.pdf
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