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DateLine Thursday, 18 October 2007

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Record profits for Distilleries Company of Sri Lanka

The Distilleries Company of Sri Lanka (DCSL) has recorded a consolidated profit of Rs 3.6 billion after minority interest in 2006/2007 despite the economy facing multiple challenges.

Chairman D. H. S. Jayawardena stated that although the Group through strategic acquisitions has diversified into many sectors inclusive of food and beverage, telecommunication, tourism, cargo, logistic, destination management, hotels and hotel management, plantations, fabric processing, garment, insurance and shipping, the beverage sector continues to be the main contributor towards Groupís profit.

According to the Chairman there had been several revisions of excise duties and import duties on rectified spirits and prices of DCSL and Periceyl products were increased.

He pointed out that the Alcohol and Tobacco Bill passed in Parliament is at its infancy and will have major repercussions in the future.

He regretted that the National Authority on Tobacco and Alcohol only focuses on the aspect of legal liquor that is least harmful and a major contributor to Government coffers.

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