Browns Group achieves revenue of 14.4 b
Browns Group has grown from strength to strength, recording a 19%
growth in revenue to Rs. 14.4 Bn, while profitability was also up by 6%
for the year ended April 2012.
Group Managing Director/CEO Murali Prakash stated, “the best
performing sectors were agriculture, general trading, consumer, retail,
plantation support services and power systems, all of which grew by 40%
year on year.”
“The company continued to dominate the market in several business
segments, holding either first or second place by market share. These
include batteries at 72% market share, power tools at 37%, generators at
30%, franking machines at 90%, four-wheel tractors at 60%, two-wheel
tractors at 33%, radiators at 42%, marine engines at 32%, pet food at
29%, veterinary pharmaceuticals at 30%, plantation machinery at 50%,
grinding wheels at 54% and office automation at 24%. The company also
harnessed the benefits of continued investment over the past five years
in maintaining market leadership position in several of its products.”
The company adopted a three-pronged strategy of consolidation,
restructuring and strategic investment in emerging business areas or
sunshine industries during the year. The company strengthened its brand
portfolio, its distribution channels and invested in new markets such as
the North and East of Sri Lanka in order to consolidate its market share
and leadership position in several business segments. Browns also
implemented the first phase of an enterprise Resource Planning (ERP)
solution, which will integrate the different functions of the group.
“Marketing is a hybrid function at Browns. The company undertakes
constant research to stay relevant to customers and meet their changing
needs both through product expansion and by aligning existing products
and services accordingly.”
“All manufacturing operations are being relocated to a central hub in
Pannala called Browns Industrial Park which allows the company to
achieve greater synergies in terms of resource use and logistics,
between the various manufacturing and assembly operations at Browns,”
said Prakash.
The company laid the groundwork for its foray into the healthcare
sector, with the acquisition of land in Kandy for secondary care general
hospital.
"Several other key investments were made during the year through
Browns Investments PLC, including the acquisition of Excel Global
Holdings (Pvt) Ltd. and Ajax Engineering (Pvt) Ltd. and the construction
of several new hotel projects," speaking on the future of the company
Prakash stated. Browns will focus on expanding its presence in
healthcare, leisure and real estate.
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