Bogala Graphite records third highest profitability

Ramani KANGARAARACHCHI

Bogala Graphite Lanka Plc has recorded the third highest profitability and the second highest turnover this year compared with the recent past according to Chief Executive Officer Amila Jayasinghe.

The lubricant plant installed during the year is beginning to pay reasonable returns and sales of lubricant to the South Asian market has increased. This appears to be an area of growth into the future Chairman Vijaya Malalasekera said.

Pricing of company's products is going to be a key determinant to profitability in both areas in sales of graphite and the sale of lubricants. The company is in the process of negotiating prices with key buyers.

It will continue to look at areas of cost reduction while improving on safety and quality. Despite all challenges, the board has decided to pay of a first and final dividend of .25 cent per share for the first time since privatization.