Regnis increases revenue

Regnis (Lanka) Limited Chairman's review for the first nine months of 2005, shows an appreciable increase in production volumes for their major categories, refrigerators and deep freezers respectively. A capacity enhancing program is currently in progress to meet rising demand.

We have scheduled the completion of this program for year end.

Until then, we are unable to produce the right model mix and unit volumes to satiate demand. When completed, the new production facility will possess the capability to introduce several new models with cutting edge technology.

Company financial service associate continues to reduce losses. If inflation is contained and interest rates decline. "First Capital will return to early profitability and we anticipate this to occur in 1st Quarter of 2006," Chairman Regnis Hemaka Amarasuriya stated.

The company's total revenue in 2004, was Rs. 509 million while in 2005 the revenue increased to Rs. 726 million. This is a change of 42.6 per cent.

"We hope to close the year on a strong note, as 4th Quarter orders have been enhanced to meet seasonal demand," he further stated.