Kelani Cables shines in first quarter
Kelani Cables PLC has reported an excellent performance for the first
quarter with a top line growth of 30 percent and a phenomenal growth in
bottom line 520 percent, compared to the previous year's first quarter.
The company turnover was Rs 1.05 billion in the first quarter. This
was Rs 782 m in the corresponding period last year. The profit after tax
was Rs 49.7 m. It was Rs 8 m last year.
Chairman Upali Madanayake and Deputy chairman Suren Madanayake along
with the new management team has embarked on a strategic four pillar
total change management initiative which is bringing in excellent
corporate results.
Chief Executive Officer Mahinda Saranapala with his wide corporate
experience has been able to tap the resources of the company along with
his vibrant and proactive team to work towards achieving sustainable
growth and profits.
The entire workforce of 426 plays an integral and active part in
rolling out the strategy into action.
The company hopes that during the current financial year better
results could be achieved. "We are on a journey to make Kelani Cables
PLC, 'a world class company' and we are blessed. Kelani Cables PLC is a
Sri Lanka-based company engaged in the manufacturing and distribution of
power cables, telecommunication cables and enamelled winding wires," he
said. The company's product portfolio comprises bare conductors for low,
medium and high-voltage electricity, transmission and distribution,
house and building wires for in-house wiring and commercial buildings
and distribution of electricity within factories, flexible cords and
cables, armoured and unarmoured power cables for distribution of
electricity within cities, factories and buildings, control cables,
instrumentation cables, telephone cables, Kelani lead-free submersible
pump cables, Kelani welding cables and Kelani winding wires.
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