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UBP’s revenues on the rise, profits not quite keeping pace

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UBP's revenues on the rise, profits not quite keeping pace

The United Basalt Products Group’s revenue for the nine months period ended March 31, 2022 has increased by 19.4% (+Rs 479.6 million) compared to that of the same period in 2021.

This increase was attributed mainly to the consolidation of Pre-Mixed Concrete Ltd as a subsidiary since November 2021 (+Rs 240.4 million) and to the increased revenue of the other core business and retail segments entities.

However, its local sales volume of aggregates was lower than previous year.

The Group’s profit decreased from Rs 125.6 million for the nine months period ended March 31, 2021 to Rs 104.6 million for the same period this year.

Three months ago, UBP said its revenue had increased increased revenue Revenue for United Basalts Products Ltd for the half year ended December 31, 2021 had increased by 9.9% (+Rs 184.8 million) compared to the same period in 2020.

However, its operating profit for the half year period decreased from Rs 237.0 million to Rs 186.9 million, attributed to a significant increase in boulders quarrying costs and higher repairs and maintenance costs.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.