C W Mackie PLC, a highly diversified publicly listed trading company in the country, has paid a first and final dividend of Rs.7 per share (dividend payout 89%) amounting to Rs. 251.92 million out of the profits for the year ended March 31, 2021, which was approved by the shareholders at the virtual Annual General Meeting held recently.
The Company, amid numerous business disruptions and challenges by the COVID–19 pandemic, recorded an impressive profit for the period ended March 31, 2021, which, after charging income tax expense of Rs.120.8 million, was Rs.284.5 million. This is one of the best financial performances posted by the Group in recent years, primarily due to the outstanding contributions made by the Fast Moving Consumer Goods Cluster (FMCG) and the Industrial Product Cluster (IPC). The performance of the Industrial Product Cluster (IPC), which comprises light industrial products, electrodes, and refrigeration and air-conditioning components, marine paints, has been of great promise during the reporting period. IPC, one of the fastest-growing business clusters in the Group, contributed more than one-third of the Company’s earnings before interest and tax (EBIT).
As further elaborated in the Chairman/Chief Executive Officer’s review of the Annual Report 2020/21, the management of IPC is highly optimistic of the future business potential of this cluster in the backdrop of the mega constructions projects and other associated construction activities forecast by the Government of Sri Lanka, in particular, the much-publicized Colombo Port City developments.
0 comments: