Plans to consolidate on construction, agriculture:
Lankem to introduce polymer bitumen
Ravi LADDUWAHETTY
Lankem Ceylon PLC has planned to introduce polymer modified bitumen
to local roads which will improve the durability and ease the laying of
local roads.
“We are very strong in the construction sector and we will be
fortifying in this area ourselves and one of the new areas will be the
introduction of polymer bitumen to local roads to ensure durability and
easing the laying of local roads, Lankem Managing Director Anushman
Rajaratnam told Daily News Business yesterday.
Lankem will also consolidate its performance in the local market for
2011/2012 with the wave of success it has enjoyed in the areas of
construction and agriculture.
This will also add to the construction portfolio of the Group which
is already engaged in road construction, waterproofing, industrial
flooring, sports courts flooring, epoxy flooring and painting contracts
as well.
“While we will consolidate in our core activities in the agricultural
sector such as in the areas of our seed paddy production,
agro-chemicals, we want to make it a one stop shop for the farmers,” he
said.
Sun Agro, which is a Lankem Group member, has also pioneered the
cultivation of asparagus in Sri Lanka and plans are underway for
commercial agriculture in this arena, he said.
Meanwhile, Lankem Ceylon PLC has reported the highest growth and
profits in its history for the year ended March 31, 2011 with a
consolidated revenue of Rs 23.03 billion for the period ended March 31,
2011, 108.5 percent over the Rs 11.05 billion a year ago and which is
also an average growth rate of 27.69 percent over the last five years.
The Post tax profits also increased 241.2 percent to Rs 1,871.5
million over the previous year’s Rs 548.58 million.
Meanwhile, Rajaratnam has told shareholders in his Annual Report for
2010/2011 that increased levels of economic activity in the country has
helped ensure that the industrial chemicals division of the company
maintained steady growth in the year under review.
With the government encouraging industrialization and with the new
chemicals from the foreign principals in line to be introduced locally,
he has expressed confidence of the growth prospects for the division as
excellent.
He has also said that the Group’s performances were not limited to
the core operations of the company but also many other companies of the
Group.
The financial results of CW Mackie PLC had also been consolidated
into the Group and the profitability of CW Mackie had also grown to Rs
223 million.
The mix of operations at CW Mackie as a Fast Moving Consumer Goods
operator has also given the Lankem group, many growth opportunities, he
has told shareholders.
Plans are also underway to refurbish extensively the recently
acquired property Weligama Bay Beach Hotel that the company acquired
recently through its holding company B.O.T. Hotel Services (Pvt) Ltd. |