Sanjeevi JAYASURIYA
Ceylon Tea Brokers PLC has recorded an impressive performance for the year ended March 31, 2011 and is looking forward to continue and sustain its upward trend.
The company’s turnover for the year was Rs 269 million compared to 214 million recorded last year.
The profit for the period was Rs 34 million up from Rs 22 million last year.
“The fourth quarter marked a greater end to a very successful year with over 50 percent growth on net profit on year on year basis. Our strong performance could be attributed to a strong teamwork and continuous investments into IT related services,” Ceylon Tea Brokers PLC Director Waruna de Silva told Daily News Business.
The measures taken to ensure customer retention and the rapid growth in new business were also contributory factors, he said.
“We have the advantage of being the only stand alone listed tea brokering company in the country at present.
‘We consider the year 2010 and also 2011 as years of consolidation. The acquisition of the company by Capital Alliance Group in 2005 saw the company growing at a rapid pace on year on year basis,” he said.
The country’s tea industry could grow due to continued global demand for value added tea and the health aspect related to tea will have a positive impact on the long run.
With the increased trend in the local consumption the tea industry will forge ahead bringing in more business opportunities for companies to capture the market, he said.
“We look forward to continue the current growth momentum for the year ahead through our investments and that continues to be the case as evident in our strong business performance,” de Silva said.
source - www.dailynews.lk
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