Renuka City does nicely on share trading

Renuka City Hotels PLC has boosted both revenue and profitability in the nine months ended December 31, 2009 with revenue up a marginal 3% to Rs.54.1 million while the profit after-tax was up 34% to Rs.129.1 million.

The company had done well on trading in the Colombo Stock Exchange (CSE) during the period under review generating an income of Rs.126.9 million, up 30% from a year earlier, on what was described as "other operating income" comprising mostly earnings from share trading.

The cash flow statement reports a profit of Rs.19.4 million on the sale of shares and Rs.18.1 million dividend income with the company having invested Rs.317.5 million in its share portfolio and generating Rs.64.2 million on the sale of shares during the nine months under review.

Renuka Hotels Limited with 62.28% of the company is its largest shareholder followed by Cargo Boat Development Co. Ltd. (6.50%) and J.B. Cocoshell (4.52%).

The directors of the company are: Messrs. R.B. Thambiayah, R.S. Tissanayagam, F.H. Puvimanasinghe, Mrs. N.A. Thambiayah, Ms. S.R. Thambiayah, Mrs. M.A. Jayawardena, C.S. Wijeyeratne and Ms. A.L. Thambiayah.

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