Sunshine Holdings targets leisure sector
Sunshine Holdings PLC reported excellent results for the nine months
ended December 2010 with group Net Profit after Tax of Rs 599 million
which is an increase of 38 percent over the comparable period last year.
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Mandira
bungalows |
Sunshine Holdings PLC is a diversified conglomerate with interests in
healthcare, plantations, FMCG, packaging, tourism, telecom and Power.
Group companies include Swiss Biogenics Ltd, Watawala Plantations
PLC, Sunshine Packaging, Sunshine Travels and Tours, Sunshine Energy and
Healthguard Pharmacy. The company is also the local investor in Tata
Communications Lanka.
Group revenue for the period was Rs 7.8 billion, an increase of 12.6
percent over last year, with the two major sectors, plantations and
healthcare achieving a growth of 7.7 percent and 19.6 percent.
Gross profit for the period was Rs 1.7 billion, an increase of 35
percent over the comparable period last year.
This significant increase has been achieved by contributions from
both the major sectors, with plantations benefitting from record rubber
prices and FMCG segment margins and the healthcare sector improved sales
of higher margin diagnostics and surgical products. In new ventures, the
company has moved into the leisure sector with the setting up of two
boutique bungalows under the brand "Mandira" in the upcountry with more
to follow in the months ahead.
"Mandira" is the Sanskrit word for mansion, and the brand positioning
is to invite guests to experience a colonial home atmosphere.
Increased tourist arrivals as well as effective marketing have led to
higher than anticipated occupancy during the period.
The company expects this sector to grow into a sizeable business in
the future as they expand across the country and with overall
improvement in tourist arrivals.
The company's active interest in hydropower through Sunshine Energy
Ltd, has resulted in the construction of their first project, a 1.7
Megawatt unit in Waltrim estate, Lindula. They anticipate project
completion by December 2011, while two other projects have been
finalized and work will begin soon. The company has set a target to
achieve 10 MW of power generation by 2013.
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