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| Tuesday, 6 April 2004 |
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Ceylon leather products nets Rs. 12.8 m after tax profit in 2003 by Irangika Range Ceylon Leather Products Limited (CLPL), the largest leather producer in Sri Lanka has recorded Rs. 12.8 million after tax profit in the last financial year. The turnover in 2003 was Rs. 468 million.
They also exported 35 percent fine leather, leather footwear and goods to Japan, India, Holland, UK and Italy. The CEO of CLPL Vasantha Gomez said CLPL has over 50 percent share in the domestic market in genuine leather. " We are the main supplier of leather footwear and accessories to the Armed forces," he said. "Established in 1942, the company gained international recognition as a supplier of high quality durable leather products. Therefore the company was converted into a corporation in 1955 as a business undertaking of the Sri Lankan government. A new shoe manufacturing plant was built in 1962, to diversify its products for the local market," Gomez said. A new tannery was completed in 1970 with modern up-to-date system to satisfy the demands for leather goods locally and to manufacture a wide range of products such as leather belts and handbags. He said that they also produce objects of abstract art, furniture and fashion jewellery. "We are now on a solid recovery path to meet the expectations of our shareholders. We are fortunate to have a talented and dedicated workforce who have risen to the challenge of delivering products of international quality standards," he said. "Having ventured into the export market we won many accolades such as Presidential Export Award in 1983 and 1984. We also have planned to introduce several types of new products for this season as well as in the future," he said. |
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