MTD Walkers gains in confidence

Hiran H.Senewiratne

MTD Walkers Plc successor to Kapila Heavy Equipment Plc, which recorded a net profit of Rs 39 million after five years are looking for diversification with the acquiring and venturing into new business ventures, its Chairman Azmil Dato Khalid said.

Currently the company has four companies under its wing. Therefore, Walkers Pilling and Walkers Sons Company Engineering looking for major private and government major infrastructure projects in Sri Lanka, Khalid told at a press conference.

Khalid said Walkers has a very rich history but recorded negative growth last year and with the placing of infrastructure it was able to achieve an organic growth last year.

In addition, the company’s revenue for the 2007/2008 financial year was Rs 154 million, while the net asset per share and earning per share stood at Rs 38.40 and Rs 6.85 respectively at the end of the same period, its Chairman said.

“MTD Walkers Plc has gained the confidence of its stakeholders as well as the public.

“This is evident from the large-scale project awards to us by the state and private sector locally as well as internationally.

“The increase of our share price from Rs 15.00 to 75.00 during a period of nearly one-year too bears testimony to the confidence placed on us by our stakeholders,” he said.

Khalid also said capitalising on the global trend of increasing demands for tea produced through orthodox method, while they will export fully automated machinery required for orthodox tea production. They have also secured the patent license for the fully automated tea roller invested by the company.

Currently, the company is exporting tea rollers to many countries including Rwanda, Africa, Malaysia and many more.

MTD Group Executive Director Keith George Cowling said the company has also setup a fully fledged workshop at a cost of US$2.5 million on a nine acre land at Malwane.