Ramani KangaraarachchiSri Lanka will not need to beg for financial assistance outside its shores in the future if full advantage of the economic opportunities is taken in a spirit of public-private partnership, Distilleries Company PLC Chairman D.H.S. Jayawardena said in his message for the Annual Report for 2009/2010.
He said, that the overall corporate performance of DCSL Group was impressive against a backdrop of a sluggish economy and company turnover increased marginally to record Rs 29.96 billion with an increase of net profits by five percent to stand at Rs 2.81 billion during the period under review.
However, group profits declined from Rs 3.43 billion to Rs 2.15 billion (37 percent) as a result of the loss of profits due to the Government taking over Sri Lanka Insurance Corporation and the poor performance of the telecom(Lanka Bell) sector due to intensive and self destructive price-based competition.
However, the company continues to lead the way in the alcohol and spirits industry.
Referring to shareholders returns he said, that the DCSL share offers an improvement in shareholder returns as market price increased from Rs 65.00 to Rs 118.00 over the year. Meanwhile, dividends have increased from Rs 2.25 to Rs 2.50 per share.
Looking to the future he said, that the future is very bright and the company will come up with new product innovations on a regular basis, to retain the company’s leadership position, while continuing to focus on core business and keeping a look out for business ventures.
source - www.dailynews.lk
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