Tokyo Cement Company (Lanka) PLC in a stock exchange filing said the Group recorded Rs. 8.4 billion turnover for Q4 FY2020, which is 23 % reduction when compared to Q4 FY2019.
The Company recorded Rs. 4.9 billion turnover for Q4 2020, which is 36 % reduction when compared to Q4 FY2019. Despite a drop in turnover we are hopeful that post audit FY 2020 will end up with a positive note.
With corners production classified as an essential commodity, the Company has ensured production, distribution, and sales of products and services across the island with limited stoppages. However, retail and construction sites within the Western Province only started picking up from May 11, the rest of the country saw a resumption in consumption from the April 20.
So, while there might be a slight reduction in consumption in Q4 in FY2020, the impact of the curfews, transportation restrictions, and lagged resumption of labour force at construction sites would reduce the rate of consumption for Q1 FY2021.
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