Lanka Walltile records Rs.5b turnover

Lanka Walltile had another year of exceptional performance during 2006/2007 with the Group turnover crossing the Rs. 5 billion milestone by achieving Rs. 5.7 billion turnover which was a 17.8 per cent improvement over the previous year.

Chairman Anthony A. Page, in his review said that Group profit after tax was a healthy Rs. 375 million which was a 31 per cent increase over the year 2005/2006.

The Ceramic Sector in the Group performed creditably well during the year.

This growth was in the backdrop of rapid increase in energy prices during the year.

Consequently the cost of energy as a percentage of total cost has increased from 25 per cent in 2005/2006 to 31 per cent in 2006/2007,’ Page said.

Although a lull in large residential and commercial development was observed during the year, home building continued unabated and helped sustain demand for the product manufactured by this sector of the Group,’ Page said.

Whilst Lanka Tiles Limited reported a net profit of 272.9 million for the year under review. Horana Plantations recorded a pre-tax profit of Rs. 153.9 million which is the highest recorded in its 14-year history.