The Autodrome PLC Reports Un-Audited Company and Group Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 18, 2017
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The Autodrome PLC reported un-audited company and group earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported turnover of LKR 159.3 million compared to LKR 171.0 million, operating loss of LKR 5.1 million compared to operating profit of LKR 5.0 million, loss before taxation of LKR 2.4 million compared to profit before taxation of LKR 6.7 million and profit after taxation of LKR 0.2 million or LKR 0.02 per share compared to LKR 5.0 million or LKR 0.42 per share for the last year.
For the nine, the company reported turnover of LKR 546.5 million compared to LKR 460.5 million, operating profit of LKR 4.4 million compared to operating profit of LKR 23.7 million, profit before taxation of LKR 13.9 million compared to LKR 28.1 million and profit after taxation of LKR 15.1 million or LKR 1.26 per share compared to LKR 19.9 million or LKR 1.66 per share for the last year. Net cash from operating activities was LKR 13.8 million compared to LKR 19.3 million and purchase of property, plant & equipment was LKR 2.6 million compared to LKR 3.2 million for the last year.
For the quarter, the group reported turnover of LKR 160.0 million compared to LKR 171.5 million, operating loss of LKR 4.8 million compared to operating profit of LKR 5.3 million, loss before taxation of LKR 2.0 million compared to profit before taxation of LKR 7.0 million and profit after taxation of LKR 0.5 million or LKR 0.04 per share compared to LKR 6.0 million or LKR 0.499 per share for the last year.
For the nine, the group reported turnover of LKR 547.9 million compared to LKR 461.8 million, operating profit of LKR 4.8 million compared to operating profit of LKR 24.2 million, profit before taxation of LKR 14.8 million compared to LKR 29.1 million and profit after taxation of LKR 15.7 million or LKR 1.31 per share compared to LKR 20.6 million or LKR 1.72 per share for the last year. Net cash from operating activities was LKR 12.7 million compared to LKR 21.3 million and purchase of property, plant & equipment was LKR 2.6 million compared to LKR 3.2 million for the last year.
The Autodrome PLC is a Sri Lanka-based company, which is engaged in importing and distribution of Bridgestone tyres, tubes, flaps and harvester tracks from Japan, Indonesia, Thailand, China and Poland. The Company's other activities include the provision of services related to the tyre business, real estate, rental and lease (as landlord), and design, hosting and maintenance of websites. Its segments include tyres and related products, and air ticket sales. Its Bridgestone tyre products include Turanza T005A and Potenza S007A. Its Website services include free post office protocol (POP) 3 e-mail accounts, which its customers can check directly from their e-mail client or through a Web interface, and ultra-fast access with domain name servers and Linux hosting services in the United States, connected by T3 lines directly to the Internet backbone. Its subsidiary, Tourama (Pvt) Ltd, is an International Air Transport Association accredited travel agent and destination management company.
THE AUTODROME PLC 
