Lanka Tiles posts Rs 379 m profit for ’10
 Lanka
Tiles has recorded Rs 379 million profit after tax for 2009/2010
financial year. This is an increase of 34 percent and the highest
recorded in the company history its annual report said. Export sales of
the company have increased 20.55 percent to Rs 216 million for the year
ended March 31, 2010. It was Rs 179 million during the same period in
2009.
Lanka Tiles Chairman Anthony A. Page said the company continued its
investment to improve manufacturing facilities and to add a new plant
and machinery to maintain production capacity and improve cost effective
processes.
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Lanka Tiles warehouse in Biyagama |
The company has invested nearly Rs 200 million in upgrading plant and
machinery to better meet customer’s demands as well as to maintain cost
efficiency.
The company was also able to commission a warehouse in Biyagama this
year, a flagship project costing Rs 200 million. Total sales (net of
taxes) has increased 10.91 to Rs 2.85 billion in 2010 while total sales
(net of taxes) for the year 2009 was Rs 2.57 billion.
The company’s operating profit rose by 13.22 percent to Rs 541
million in 2010 and it was Rs 478 million in 2009.
Production has increased by 6.01 percent to 2,838,009,000 (sqmt) and
it was 3,019,353,000 (sqmt) in 2009.
Local sales (with VAT) increased by 8.51 percent to Rs 2.95 billion
and it was Rs 2.72 billion during the corresponding period in 2009.
(IH) |
