The Lanka Ceramic Group recorded a total revenue of Rs. 16.11 billion in 2016-2017 in comparison to Rs. 15.51 billion in the preceding year and was able to maintain a steady growth rate year-on-year despite the challenging macroeconomic conditions that prevailed during the period.
Traditionally, the tile sector including Lanka Tiles PLC and Lanka Walltiles PLC have been the major contributors to group performance, as was the case this year as well, with the two entities jointly contributing 53% towards the group turnover for 2016/17, according to company’s latest annual report.
In addition, the group gross profit increased by 10.73% to record Rs.5.39 billion in 2016-2017 due to improved operational efficiency measures carried out earlier. The Group recorded a profit after tax of Rs. 2 billion for the year under review. As key players, Lanka Tiles PLC and Lanka Walltiles PLC strengthened group profitability, further enhanced by a strong performance by Swisstek Aluminium Ltd which recorded a profit of Rs. 326 million in the year under review.
Lanka Ceramic PLC is a diversified group comprising of 10 subsidiary companies engaged in various business sectors ranging from manufacturing of tiles and related materials, aluminium products, packing materials and plantations.
The group consists of Lanka Tiles PLC, Lanka Walltiles PLC, Horana Plantations PLC, Uni-Dil Packaging Ltd, Swisstek Aluminium Ltd, Vallibel Plantation Management Ltd, UniDil Packaging Solution Ltd, Swisstek Ceylon PLC, LWL Development (Pvt) Ltd and Beyond Paradise Collection Ltd.
Lanka Ceramic PLC is the mining arm of the group and provides raw material to ceramic and tile industry. Despite several key challenges, including the restrictions of demand from major customers, strict government regulation on mining, negative weather conditions and competition with private and imported ceramic raw material suppliers, Lanka Ceramic PLC was able to achieve its financial targets.
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