Malwatte continues profit run

Malwatte Valley Plantations PLC ended its first quarter 2011 with an unaudited profit of Rs 198 million. This is almost 50 percent of the full previous year's profit (2010) which in itself, was an all-time record of its 14 year history. First quarter 2011 profits were 60 percent over same quarter last year which was around Rs 119 million.

The first quarter profits were buoyed by premium prices obtained by innovative Forward Contact trading covering the entire production of rubber harvested from its 2000 hectare rubber plantations.