Group turnover increased to Rs 373.6 million and total assets of the group increased to Rs 2.9 billion. Group profit after tax was Rs 148.2 million compared to Rs 61 million for the corresponding quarter, of which Rs 119 million was attributable to shareholders, up 279% versus Rs. 31.4 million in the comparable quarter. These impressive financial results can be attributed to strong performances by the Group’s agribusiness, investment and service sectors. Its listed subsidiaries include Coco Lanka PLC and Renuka Agri Foods PLC.
In the company’s Operations Review, Chairperson Mrs. Indu Rajiyah stated, "We will soon embark on our third sector which will see us entering the Property Development and Leisure areas by utilising 1.6 acres of freehold property that the company owns in Colombo. In the context of declining interest rates on borrowings, improved investor confidence, stable exchange rates and Sri Lanka’s overall improved rating outlook, we believe this project would contribute a significant income stream in the years ahead".
The released quarterly accounts of Renuka Holdings Group state short term investments in the share market of 575 million, a stated capital of Rs 125 million and accumulated profits of Rs 1.2 billion.
Renuka Holdings which traces its origin to 1866 was listed on the Colombo Stock Exchange in 2008. The Group is engaged in plantations, manufacturing and exporting of Ceylon Tea, Coconut products, Ethnic and Organic Foods. Renuka is also involved in Forestry, Logistics and Portfolio Management.
The Board of Directors of Renuka Holdings PLC comprises Mrs. I.R. Rajiyah (Chairperson), Dr. S.R. Rajiyah, Mr. C.J. De.S. Amaratunge, Mr. P.C.K. Abeykoon, Mr. S.V. Rajiyah, Mr. L.M. Abeywickrama and Mr. M.S. Dominic.
source - www.island.lk
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