After a difficult year subsequent to the re-structure, CIC Holdings PLC reported a vastly improved after tax profit of over one billion at the end of the third quarter of the current financial year, which is an increase of over 300% compared to the corresponding period of the last financial year.
Turnover for the nine months was recorded at Rs 23,802 million and Profit After Tax as Rs 1,103 million for the nine months ended December 31. The Company has shown tremendous resilience in the face of tough times, to grow all its businesses, with the Crop Solution sector being the stand-out performer. Favorable weather conditions during the year contributed largely towards the top line and bottom line growth of the Crop Solutions Sector.
Despite challenging macro economic conditions the health care and personal care cluster and the Industrial Solutions cluster also recorded satisfactory growth.
Following the re-strategizing of some of the businesses and the focus purely on the core business itself the CIC Group is poised to complete the current financial year on a high.
0 comments: