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| Thursday, 13 January 2005 |
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Touchwood Investments profits up 147% Touchwood has made an impressive profit after taxation for the first half of the financial year 2004/05, up 147% for the same period last year. The company has provided for a 5% interim dividend and the net asset per share has increased from Rs. 35.23 to Rs. 51.95, a significant increase of 47% over the last six months. CEO of Touchwood Asitha Koralage said that this achievement is in accordance with the Company's business plan, mainly attributable to Touchwood's international market penetration, aggressive local sales and marketing plus sound financial management. Touchwood is succeeding in its objectives of establishing a strong HR cross functionality and synergy, resulting in a total team effort of all employees and Directors of the company. It is a clear vote of confidence of all the stakeholders, in the belief that private forestry is not only highly profitable but also makes them proud to be part of a mission to protect our rain forests for future generations and the society. Sri Lankan and foreign clients have invested over Rs. 275 million for a winning vision put forward by the pioneer, Public Quoted Company on the Colombo Stock Exchange, marketing and managing investments in private forestry. Touchwood is proud to be a Triple Bottom-line company, profiting while protecting the environment and being socially responsible. Touchwood successfully commissioned its sales office in Dubai with many more planned. The future is exciting with plans to open a sales office in Kandy by the first quarter of the year 2005 and obtain the ISO 14000 and ISO 9001 certifications, maintaining our high quality standards to clients and all other stakeholders through dynamic management with vision and leadership, he said. |
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