Company Overview of Kelani Tyres PLC

Kelani Tyres PLC announced the following changes in directorate. Mr. R M S Femando, who served as an Independent Non-Executive Director resigned with effect from April 4, 2013. Mrs. Samalee Saroja Jayatilaka was appointed as an Independent Non-Executive Director with effect from April 5, 2013.

Kelani Tyres PLC reported unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, on consolidated basis, the company reported revenue of LKR 1,259,603,000 against LKR 1,162,221,000 a year ago. Operating profit was LKR 184,491,000 against LKR 132,236,000 a year ago. Profit before tax was LKR 163,539,000 against LKR 113,042,000 a year ago. Profit after tax was LKR 116,403,000 against LKR 87,017,000 a year ago. Profit for the period was LKR 116,403,000 or LKR 1.45 per basic share against LKR 87,017,000 or LKR 1.08 per basic share a year ago. For the nine months, on consolidated basis, the company reported revenue of LKR 3,822,120,000 against LKR 3,370,258,000 a year ago. Operating profit was LKR 530,123,000 against LKR 300,203,000 a year ago. Profit before tax was LKR 464,785,000 against LKR 264,042,000 a year ago. Profit after tax was LKR 327,700,000 against LKR 172,649,000 a year ago. Profit for the period was LKR 327,700,000 or LKR 4.08 per basic share against LKR 172,649,000 or LKR 2.15 per basic share a year ago. Net cash generated from operating activities was LKR 335,048,000 against LKR 30,398,000 a year ago. Purchases of property, plant and equipment was LKR 28,341,000 against LKR 10,721,000 a year ago. For the quarter, on standalone basis, the company reported revenue of LKR 46,287,000 against LKR 79,308,000 a year ago. Operating loss was LKR 8,470,000 against LKR 3,914,000 a year ago. Loss before tax was LKR 9,855,000 against LKR 4,576,000 a year ago. Loss after tax was LKR 9,855,000 against LKR 4,576,000 a year ago. Loss for the period was LKR 9,855,000 or LKR 0.12 per basic share against LKR 4,576,000 or LKR 0.06 per basic share a year ago. For the nine months, on standalone basis, the company reported revenue of LKR 208,649,000 against LKR 163,645,000 a year ago. Operating profit was LKR 116,340,000 against LKR 143,694,000 a year ago. Profit before tax was LKR 110,883,000 against LKR 140,998,000 a year ago. Profit after tax was LKR 110,883,000 against LKR 140,998,000 a year ago. Profit for the period was LKR 110,883,000 or LKR 1.38 per basic share against LKR 140,998,000 or LKR 1.75 per basic share a year ago. Net cash generated from operating activities was LKR 5,689,000 against net cash used in operating activities of LKR 51,527,000 a year ago. Purchases of property, plant and equipment was LKR 29,000. The company reported unaudited consolidated production results for the year third quarter and nine months ended December 31, 2012. For the quarter, the company reported production of 3,905 MT against 3,519 MT a year ago. For the nine months, the company reported production of 11,385 MT against 10,806 MT a year ago.

Kelani Tyres PLC reported consolidated group and company earnings results for the second quarter and six months ended September 2012. For the quarter, the group reported revenue of LKR 2,562,517,000 compared with LKR 2,208,037,000 for the same period last year. Operating profit was LKR 345,632,000 compared with LKR 167,968,000 for the same period last year. Profit before tax was LKR 301,246,000 compared with LKR 133,001,000 for the same period last year. Profit for the period was LKR 211,297,000 or LKR 2.63 basic per share compared with LKR 85,633,000 or LKR 1.07 basic per share for the same period last year. For the six months, the group reported revenue of LKR 1,350,368,000 compared with LKR 1,179,486,000 for the same period last year. Operating profit was LKR 194,935,000 compared with LKR 104,270,000 for the same period last year. Profit before tax was LKR 172,092,000 compared with LKR 85,894,000 for the same period last year. Profit for the period was LKR 130,243,000 or LKR 1.62 basic per share compared with LKR 66,718,000 or LKR 0.83 basic per share for the same period last year. Net cash generated from operating activities was LKR 138,723,000 compared with net cash used in operating activities LKR 54,887,000 for the same period last year. Purchases of property, plant and equipment was LKR 12,844,000 compared with LKR 6,705,000 for the same period last year. For the quarter, the company reported revenue of LKR 162,362,000 compared with LKR 84,337,000 for the same period last year. Operating profit was LKR 124,809,000 compared with LKR 147,608,000 for the same period last year. Profit before tax was LKR 120,737,000 compared with LKR 145,574,000 for the same period last year. Profit for the period was LKR 120,737,000 or LKR 1.50 basic per share compared with LKR 145,574,000 or LKR 1.81 basic per share for the same period last year. For the six months, the company reported revenue of LKR 69,414,000 compared with LKR 27,415,000 for the same period last year. Operating loss was LKR 7,931,000 compared with LKR 6,980,000 for the same period last year. Loss before tax was LKR 9,812,000 compared with LKR 7,084,000 for the same period last year. Loss for the period was LKR 9,812,000 or LKR 0.12 basic per share compared with LKR 7,084,000 or LKR 0.09 basic per share for the same period last year. Net cash used in operating activities was LKR 58,240,000 compared with net cash generated from operating activities of LKR 31,870,000 for the same period last year.