Chilaw Plantations continues to make good profits

COMPANY RESULTS: Chilaw Plantations Limited continues its unbroken record of making very satisfactory annual profits since its management was taken over by the present managing agents, Wayamba Plantations Limited.

The Managing Director, W. L. Bogtstra said Chilaw Plantations Limited has made a substantial profit during the year 2005 despite various setbacks.

"Not only was the price of coconut quite low, but managing has become a lot more difficult because of increased interference. Various parties try to decimate our landholdings, and undermine our management and authority".

He stated that should these unsatisfactory conditions prevail it may ultimately lead to the demolishing of a flourishing company which is one of the few profit making Government Owned Enterprises in the country. "That would be a tremendous pity" Bogtstra said, "more so, because our company has shown how successful private sector management of a Government Owned Enterprise can be. Since 1992 upto 2005 our contributions to the Treasury plus retained earnings is Rs. 677 million.

'We also pay 10% of our profits by way of a bonus to our workers and this year that amount was over Rs. 17,000 per worker," he said.