Browns Group turnover reaches Rs 2.6 billion
The Browns Group posted a turnover of Rs 2.6 Billion for the nine
month period ending December 31, 2009. Group turnover recorded a 41
percent growth over the same period last year. The Group profit stood
little over Rs. 808 million for the above period. A statement issued by
the company said. “The company’s future direction is being charted both
as a trading and manufacturing entity whilst also being a strategic
investment vehicle with the intent of increasing share value to its
stakeholders.”
Chairperson
Rohini Nanayakkara |
Inline with this, the company has made several investments into both
the financial and plantation sectors which they see as future revenue
sources aligned to the Sunshine industries.
Brown and Company now holds over nine percent stake in both Seylan
Bank PLC and Hatton National Bank PLC respectively.
The company has invested in Mathurata and Pussellawa Plantations
through a strategic investment with Taprobane Holdings Ltd. together
Pussellawa and Mathurata Plantations consist of 31 tea estates and nine
rubber estates.
Further mini hydro projects, generating three Mega-Watts have been
commissioned and several other projects are in the pipeline.
Browns and Company together with Lanka Orix Leasing Company Ltd.
invested in Galoya Plantations, whose primary business is the production
of sugar which has very high market potential since over 90 percent of
the local requirement is currently imported.
The company intends to venture into ethanol production and power
generation through this project. The Browns Group has also reached
market leadership in seven segments that it operates in. The group holds
54 percent market share in motor vehicle batteries, 38 percent and 65
percent market share in two wheel and four wheel tractors, 53 percent in
marine engines, 30 percent in the office automation segment, 43 percent
in radiators and 42 percent in the power tool category.
The Browns Group said that it is confident that with the dawn of
peace and the anticipated growth of both the agriculture and fisheries
sectors the company will be in a position to take advantage of the above
with its range or products and services.
The Board of Brown and Company consists of Chairperson Rohini
Nanayakkara, Deputy Chairman Ajith Devasurendra, Group CEO/MD, Murali
Prakash, Director Vijaya Malalasekera, Director Shanker Somasunderam,
Director Ishara Nanayakkara and Director Rajanayagam Asirwatham. |