Kelani Cables posts Rs 139 m profit

Kelani Cables PLC achieved a 17 percent growth in 2009-2010 compared to the preceding year with their highest net turnover of Rs 3,322 million compared to Rs 2,830 million over the previous year.
The gross profit margin also increased from 16.5 percent to 20.9 percent, which is an increase of Rs 695 million.

Cable manufacturing at Kelani Cables

Hemantha Perera

The company’s pre-tax profits Rs 279.4 million is a rapid increase compared to Rs 135 million during the financial year of 2008-2009.

The company achieved a profit after tax of Rs 139.6 million for the year comparatively to Rs 94.9 million in the corresponding year. Kelani Cables PLC continues its strong position as a leading brand in the sector retaining its dominance in holding 35 percent in the local electrical cables market, Kelani Cables Managing Director, Hemantha Perera said in the annual report for 2009-2010.

The distributor market recorded an increase in net turnover of 6.2 percent.

However, the export turnover dropped by 3.6 percent to Rs 432 million in the year mainly due to the global economic downturn.

The strength of the company’s island wide distribution network sustained by the continuous implementation of best practices enabled us to maintain their market share during this year too.

Despite the economic downturn the company has performed outstandingly in contributing towards the development of the country.

As the nation look forward to a new era, the culture of high performance we have developed over the years will place us in the path of success in the coming year, he said.

In the previous years, we focused on maintaining and increasing our brand presence in the cable industry.
With the success of the company manufactured new products and we hope to gain more share and grow our brand equity, Perera said. - CdeS

source - www.dailynews.lk