LAUGFS records Rs 1.2 b PBT

LAUGFS Gas PLC and subsidiaries announced yesterday that the group surpassed Rs 1.20 billion profits before tax PBT for the financial year ended March 31, 2011 and it is a phenomenal increase in profits before tax by 107 percent over the previous year.The group, according to the unaudited financial statements for the year ended March 31, 2011, released to the Colombo Stock Exchange, had posted a profit after tax (PAT) of Rs 1.0 billion which is 90 percent over the corresponding period last year. During the year under review, company’s revenue also increased by 30 percent from Rs 5.6 billion to Rs 7.3 indicating robust performance. The LAUGFS Gas PLC and its subsidiaries also increased the value of its assets base by 48 percent from Rs 6.2 billion last year to Rs 9.2 billion as at the end of March 31, 2011. The net assets value for the year increased from Rs 2.8 billion to Rs 6.3 billion..