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Tuesday, September 28, 2010

Lanka Tiles records Rs 379 m profit

Lanka Tiles PLC unveiled results that showed that the company was in remarkably good financial health in its recently released Annual Report.

In financial year 2009/2010, the company's profit after tax increased 34 percent to Rs 379 million, the highest in its 25 year history.

These figures are proof of Lanka Tiles' commitment to strong corporate governance, operational efficiency, prudent investments, and shareholder value creation, the company said.

The Company's shares performed exceptionally well, a stunning achievement given the country's sometimes turbulent stock market. The company also paid out the highest amount of dividends in its recent history, rewarding its shareholders for the trust they had reposed in it.

Lanka Tiles Chairman Anthony Page said shareholders can 'expect this trend to continue in the future.'

In spite of the challenges posed by difficult global and domestic economic circumstances, Lanka Tiles was able to achieve commendable financial results. The company's gross revenues increased by 10.9 percent to Rs 2.852 billion, despite an economy-wide slowdown in foreign demand for Sri Lankan products.

source - www.dailynews.lk