Mabroc Teas posts Rs 26.1 m net profit

Ramani KANGARAARACHCHI

Mabroc Teas Pvt Ltd which is a fully owned subsidiary of (KVPL) reported a post tax profit of Rs 26.1 million last year. KVPL Chairman A.M Pandithage said, the company revitalized its operational effectiveness through investments, in new blending packing and cleaning machinery in conjunction with the automation of the tea bagging operation during the period under review. The company has established firm credentials for the international marketing of tea through the successful export of value added products and brand promotions he said.

The other subsidiary of KVPL , Kelani Valley Instant Tea Pvt Ltd reported a profit of Rs 2.6 million despite output limitations imposed by plant size. Pandithage said the future augurs well for instant tea with a growing number of health conscious consumers switching to instant tea as an alternative to soft drinks and other instant beverages.

KVPL was able to record a yield of 841kg per hectare and a crop of 2.78 m kg , reflecting an increase of 11 percent and a 5.6 percent respectively on the previous year as a result of prudent rationalization of its tapping operations. The company invested Rs 197 million on replanting 291 hectares of rubber and immature area management.

Meanwhile , Kalupahana Power Company recorded a profit of Rs 6 million and a turnover of Rs 21 million . The unfavourable weather conditions during the year impacted output adversely with annual power generation declining to 2,070 KWH from 3,270 KWH the previous year.