The Autodrome plc Announces Unaudited Company and Group Earnings Results for the Quarter Ended June 30, 2018
July 23, 2018 at 07:15 am
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The Autodrome PLC announced unaudited company and group earnings results for the quarter ended June 30, 2018. For the quarter, on company basis, the company reported turnover of LKR 116,488,000 compared to LKR 130,720,000 a year ago. Operating loss was LKR 3,946,000 compared to operating profit of LKR 4,565,000 a year ago. Loss before taxation of LKR 233,000 compared to LKR 7,480,000 a year ago. Loss after taxation was LKR 603,000 or LKR 0.05 per share compared to profit after taxation of LKR 5,213,000 or LKR 0.43 per share for the last year. Net cash used operating activities was LKR 5,483,000 against net cash from operating activities of LKR 9,959,000 a year ago. Purchase of property, plant and equipment was LKR 422,000 against LKR 721,000 a year ago.
On group basis, the company reported turnover of LKR 116,945,000 compared to LKR 131,042,000 a year ago. Operating loss was LKR 3,849,000 compared to operating profit of LKR 4,556,000 a year ago. loss before taxation of LKR 54,000 compared to LKR 7,621,000 a year ago. Loss after taxation was LKR 397,000 or LKR 0.03 per share compared to profit after taxation of LKR 5,314,000 or LKR 0.44 per share for the last year. Net cash used in operating activities was LKR 5,471,000 against net cash from operating activities of LKR 8,680,000 a year ago. Purchase of property, plant and equipment was LKR 422,000 against LKR 721,000 a year ago.
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.