Lanka Tiles has recorded Rs 379 million profit after tax for 2009/2010 financial year.This is an increase of 34 percent and the highest recorded in the company history its annual report said. Export sales of the company have increased 20.55 percent to Rs 216 million for the year ended March 31, 2010. It was Rs 179 million during the same period in 2009.
Lanka Tiles Chairman Anthony A. Page said the company continued its investment to improve manufacturing facilities and to add a new plant and machinery to maintain production capacity and improve cost effective processes.
The company has invested nearly Rs 200 million in upgrading plant and machinery to better meet customer’s demands as well as to maintain cost efficiency.
The company was also able to commission a warehouse in Biyagama this year, a flagship project costing Rs 200 million. Total sales (net of taxes) has increased 10.91 to Rs 2.85 billion in 2010 while total sales (net of taxes) for the year 2009 was Rs 2.57 billion.
The company’s operating profit rose by 13.22 percent to Rs 541 million in 2010 and it was Rs 478 million in 2009.
Production has increased by 6.01 percent to 2,838,009,000 (sqmt) and it was 3,019,353,000 (sqmt) in 2009.
Local sales (with VAT) increased by 8.51 percent to Rs 2.95 billion and it was Rs 2.72 billion during the corresponding period in 2009.
source - www.dailynews.lk
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