PTP up 5607 percent to Rs. 656.3 m in 2008/09

Renuka Holdings profits up

Renuka Holdings Plc has recorded a noteworthy turnover and profit growth for the financial year ending 2008-09. Turnover for the period reviewed grew to Rs. 1.7 billion, while total assets of the Group increased to Rs. 1.4 billion as at March 31, 2009. Earnings per share increased to Rs. 72.37 for the twelve months of 2008-09 and net assets per share grew to Rs. 110.74.

This has been attributed to exceptional performances by the Group’s food and beverage business and a steady contribution by its investment and service sector.

In results released to the Colombo Stock Exchange, the organization which acquired subsidiaries Renuka Agro Exports Limited and Renuka Enterprises (Pvt) Ltd in the current financial year and also includes the leading agri business company Coco Lanka Plc, reported that profit before tax grew to Rs. 665.6 million in the twelve months ending March 31.

Profit after tax at Rs. 656.3 million reflected a growth of 5607 percent over the corresponding twelve months of last year, while profit attributed to equity holders of the parent company was Rs. 542.8 million.

Renuka Holdings Executive Director Shamindra Rajiyah said, “At a time when global economies are in recession and we are in an environment of shrinking margins, these results are a reflection of the strong fundamentals and principles on which Renuka is built and will continue to grow.”