Lanka IOC PLC (LIOC), which posted rather disastrous results in March, reported a turnaround with a 0.32/- per share profit for the June 2015 quarter.
Revenue increased 9.7% compared to the previous quarter, but 18.7% lower than the same period last year. Gross margin was 4.9% which is the lowest in recent times. Distribution expenses remained flat while administrative expenses reduced and (net) interest income increased compared to the previous quarter.
LIOC struggled during the previous quarter after the fuel price reduction by the government but managed to turn to profit due to reduction in the global oil prices.
LIOC declared a 1/- per share dividend for the year 2014/15 down from 2/- the previous year.
LIOC trades at 21.0x TTM EPS and 1.0x book value with a 3.0% dividend yield at current price.
Below is the revenue, net profit and ROE trend of LIOC over the past several quarters.
Source: cse.lk
More discussion can be found in the forum at the below link.
http://forum.lankaninvestor.com/t1784p225-lioc-energy-sector-giant#46699
