Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post
Market Place

Add an ad

View all ads

Latest topics

» Browns investments
by Winner123 Today at 10:44 am

» PAN ASIA BANK
by samaritan Today at 7:03 am

» CFVF.N0000 - Deal at What price?
by Winner123 Yesterday at 8:35 pm

» Profitability of all the banks slides down on bigger margins
by hammurabi Yesterday at 8:25 pm

» Why AAIC Should trade above RS.50/-
by wisdom79 Yesterday at 8:17 pm

» Gotabaya Rajapaksha will named after 10th August. Aspi will move above 6500
by deli Yesterday at 7:43 pm

» කව්ද පකීර් ?(who is the Veteran)
by reyaz Yesterday at 7:32 pm

» Positive News
by samaritan Yesterday at 7:27 pm

» lOFC definitely will hit 6/-
by wealth123 Yesterday at 7:06 pm

» News AEL super report in this quarter Don't sell ..
by sheildskye Yesterday at 6:59 pm

» JKH will touch 175 very soon
by Teller Yesterday at 11:12 am

» HEXP : GOOD TO COLLECT BELOW RS.85
by Trader321 Yesterday at 10:20 am

» ASHO will hit moon. Deal with SLTB
by Bakka1988 Yesterday at 9:38 am

» LOLC Holding( LOLC N.0000)
by stockback Thu Aug 15, 2019 10:31 pm

» CFVF.N0000 :Amazing Result- Quarter Profit more than Half Billion
by Winner123 Thu Aug 15, 2019 12:43 pm

» GLASS (piramal glass ceylon plc) from
by Teller Thu Aug 15, 2019 11:02 am

» Kzoo vs onal
by wisdom79 Wed Aug 14, 2019 9:45 pm

» GREG is back
by wisdom79 Wed Aug 14, 2019 9:42 pm

» AAIC - Profit over one billion!!!!!
by wisdom79 Wed Aug 14, 2019 9:39 pm

» Sri Lankan Billionaire Dhammika Perera may Spend Rs. 10 Billion for a Presidential Campaign without any Risk! His Daily Casino Profits said to be over Rs. 50 Million
by Teller Wed Aug 14, 2019 8:40 am

» CFVF : Another dividend ?
by Promoney Tue Aug 13, 2019 7:28 pm

» CFVF.N0000 & PARQ.N0000 - These two counters Must be in your Portfolios
by Trader321 Tue Aug 13, 2019 6:39 pm

» PARQ.N0000 : Target Price Rs. 50 /=
by Hewagak Tue Aug 13, 2019 5:01 pm

» TAP Less than 1% Shares in the Market
by sanjulanka Tue Aug 13, 2019 12:10 pm

» AEL PRICE TUESDAY
by Winner123 Tue Aug 13, 2019 12:09 pm

» what is the future of KHL (JOHN KEELES HOTELS)
by bhanu Mon Aug 12, 2019 9:03 pm

» TKYO.X0000 will it move furthur?
by bhanu Mon Aug 12, 2019 5:00 pm

» stock market investors and cheated those who approached them.
by Asoka Samarakone Mon Aug 12, 2019 10:14 am

» LLMP can run in present market
by wealth123 Mon Aug 12, 2019 10:03 am

» Where Is Equity Champ
by Teller Mon Aug 12, 2019 8:52 am

» Pending AEL crossing @ Rs.20 deal near soon..
by EPS Sun Aug 11, 2019 8:26 pm

» HI EVERY ONE I'M NEW TO THE MARKET PLEASE HELP ME IS IT GOOD TIME TO ENTER THE MARKET AND WHAT IS GOOD TO BUy?
by King of vice Sun Aug 11, 2019 7:38 am

» Let's Pump And Dump BUT...
by King of vice Sun Aug 11, 2019 7:26 am

» Be careful CTBL share
by MarketWch Sat Aug 10, 2019 7:59 pm

» ඔරියන්ට් ෆ්යිනැන්ස් -විකිනීම ස්තිරයි - අද ද අයිලන්ඩ් පුවත් පත බලන්න 2020 වෙනකම් පුලුවන් නම් තියා ගන්න - අදහා ගන්න බැරි ආදායමක් ලබන්න
by sanjulanka Sat Aug 10, 2019 6:38 pm

» BFN BFN BFN ගොන් කම අත ඇරල ටික කාලයක් අල්ලන් හිටියනම් ඔක්කොමලා ගොඩ BFN BFN BUY AND HOLD -
by sanjulanka Sat Aug 10, 2019 7:11 am

» Next run DOCK?
by Eng Krishantha Fri Aug 09, 2019 2:41 pm

» EAST WEST PRICE
by Ahcha Fri Aug 09, 2019 2:13 pm

» Your thoughts about GREG.N and SPEN.N
by shihan 93 Fri Aug 09, 2019 10:31 am

» East West result is to be published
by samansilva Thu Aug 08, 2019 9:22 pm

» Union Bank website wins gold at dotCOMM awards 2019
by MarketWch Thu Aug 08, 2019 4:53 pm

» Prepare now, and get rich later.
by Asoka Samarakone Thu Aug 08, 2019 4:28 pm

» Hayles Result is out
by Capton KIng Cool Thu Aug 08, 2019 4:07 pm


You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market & Forum Help » Stock Market News » CIC demonstrates results of scientific agriculture

CIC demonstrates results of scientific agriculture

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator
Agri-business embraces rice, fruit & veg., milk and eggs

CIC Holdings PLC had grown group revenue 6.8% to Rs.22.48 billion in the year ended March 31, 2012, and posted a group profit of Rs.1.1 billion, down 5.38% from a year earlier according to figures published in the company’s recently released annual report.

The profit attributable to equity holders of the company was down 1.09% to Rs.916.5 million but the company was paying out dividends totaling Rs.303.3 million, up 16.4% from the pay out the previous year.

CIC Chairman B.R.L. Fernando said in the company’s annual report that the performance during the year under review had to be seen in the context of stability and tranquility that prevailed in the country with the end of the war.

Favourable weather had resulted in good harvests benefiting agricultural producers and rural communities country wide. The economy had continued to grow contributing volume increases in the full spectrum of business in which CIC participates.

He said that while growth in the construction sector was largely on account of capital works on roads and bridges and ports and airports undertaken by the government, private construction activity was at a low ebb as property prices were depressed from the previous year.

However, upward movement of property prices discernible from the first quarter of this year had propelled new construction activity which will boost their paints business currently profiting from hotel refurbishing.

Discussing their agri-business, Fernando reported that they have expanded their dairy sector via the Mahaweli livestock farms and have continued to invest in additional livestock although land allocation had not been resolved.

"We are now obtaining milk yields comparable to international standards which could be further increased with the implementation of our plans," he said.

"As a parallel comparison, our rice yields now exceed 8 tons per hectare which is double the national average and certainly the highest in the region."

A major thrust in the agri-business included big onion seed production at Pelwehera, fruit cultivation and getting the product to market with focus on banana, mango, pineapple and papaya.

"Overall our agriculture business continues on a growth trajectory which augurs well for us and the farming community. We continue to nurture the farming community and rural population in the belief that their prosperity will be our growth," he said.

Their feed and poultry business had continued to record improvement year-on-year and they have earned the trust and respect of their many customers. Given the projected increase in per capita consumption of chicken, their feed and poultry business was now targeting substantial investment doubling capacities all round.

"On an optimistic note we will double our revenue and profits over the next five years. The feed mill, hatchery, breeder farms and the poultry farms are now being got ready to benefit from the opportunity available with our current level of investment," he said.

CIC"s MD/CEO S.P.S. Ranatunga said that CIC today was predominantly an agriculture focused company that had over the years grown a sizeable "seed to shelf" enterprise.

The best news from an agricultural perspective after the end of the war was the gradual return to full cultivation of nearly 100,000 ha of prime agricultural land in the North and East.

CIC which entered the dairy sector in the Eastern Province on a small scale two years ago with a small manufacturing plant in Siddhapura collecting milk in the area and producing yoghurt had invested Rs.650 million during the year under review to upgrade the scope of their dairy enterprise.

"Our milk collection capacity has gone up to 5,000 litres a day and we expect to double that in the next year and a half. We are looking at a collection capacity of 15,000 litres a day in years to come," he said.

The company now runs a herd of nearly 1,800 buffalos operating predominantly in the dry zone. Buffalos were much more drought tolerant compared to cattle and produce milk with twice the fat content of that of a normal cow, he explained.

The company is a dominant egg producer looking to double output in the coming year.

He reported that they have set up a cold storage facility in Kilinochchi where they are collecting fruit and vegetables and bringing them to markets in the South. They had also acquired a farm in Vellankulam near Mannar, in proximity to the "Northern Rice Bowl" and are working with farmers facilitating technology transfer which will significantly improve their livelihoods.

Paints and General Industries Limited, the country’s biggest paint manufacturer, is the controlling shareholder of CIC’s voting shares with 53.31% of the company followed by the Life Fund of the Sri Lanka Insurance Corporation (6.54%) and the EPF (3.77%). The EPF holds 10.07% of the non-voting shares and is the top shareholder in that category followed by Paints and General Industries with 3.32%.

The directors of the company are: Messrs. B.R.L. Fernando (Chairman), S.P.S. Ranatunga (MD/CEO), S.H. Amarasekera, E.F.G. Amerasinghe, R.N. Asirwatham, R.S. Captain, M.P. Jayawardena and Prof. P.W.M.B.B. Marambe..
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=55180

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum