Friday, August 19, 2011

Kelani Cables shines in first quarter

Kelani Cables PLC has reported an excellent performance for the first quarter with a top line growth of 30 percent and a phenomenal growth in bottom line 520 percent, compared to the previous year's first quarter.

The company turnover was Rs 1.05 billion in the first quarter. This was Rs 782 m in the corresponding period last year. The profit after tax was Rs 49.7 m. It was Rs 8 m last year.

Chairman Upali Madanayake and Deputy chairman Suren Madanayake along with the new management team has embarked on a strategic four pillar total change management initiative which is bringing in excellent corporate results.

Chief Executive Officer Mahinda Saranapala with his wide corporate experience has been able to tap the resources of the company along with his vibrant and proactive team to work towards achieving sustainable growth and profits.

The entire workforce of 426 plays an integral and active part in rolling out the strategy into action.

The company hopes that during the current financial year better results could be achieved. "We are on a journey to make Kelani Cables PLC, 'a world class company' and we are blessed. Kelani Cables PLC is a Sri Lanka-based company engaged in the manufacturing and distribution of power cables, telecommunication cables and enamelled winding wires," he said. The company's product portfolio comprises bare conductors for low, medium and high-voltage electricity, transmission and distribution, house and building wires for in-house wiring and commercial buildings and distribution of electricity within factories, flexible cords and cables, armoured and unarmoured power cables for distribution of electricity within cities, factories and buildings, control cables, instrumentation cables, telephone cables, Kelani lead-free submersible pump cables, Kelani welding cables and Kelani winding wires.

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