Rs. 2.25 dividend per share proposed:

Distilleries Group records Rs. 3.4 b PAT in 2007/08

Ramani KANGARAARACHCHI

A dividend of Rs. 2.25 per share has been proposed by the Board of the Distilleries Group of Companies to its shareholders for this year, an increase of 28 percent compared to last year.

This reflects the Group's strong performance and continued confidence in the future of the business, said Chairman of the Group D.H.S. Jayawardena in the Group's annual report for year 2008/09.

He said that the gross turnover of the Group for the year under review sans Sri Lanka Insurance Corporation (SLIC) and related investment was Rs. 40.4 bn, a growth of 5 percent over the previous financial year despite the adverse macro, economic and business environment.

The Group profit after tax including the share of profit from SLIC for the year was Rs. 3.4 bn compared to Rs. 4.1 bn in 2007/08 mainly due to the poor performance of the Group's telecommunications sector even though these results were in line with the results of the telecom sector as a whole, he said.

He hoped that the businesses are well placed with a strong resource base to take advantage of the opportunities amidst the challenging economic and business environment.

Jayawardena said that the new financial year has started well, with the Government declaring the end of the war in the country opening a new window of opportunity to expand businesses. The potential cannot be understated as the Government is committed to build infrastructure and social development in these areas attracting tremendous interest both locally and internationally.