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FRIDAY, 18 FEBRUARY 2011 00:03
Ceylon Grain Elevators PLC (GRAN), one of the stocks that created much sensation in the Colombo bourse in the recent past, is believed to have posted impressive results for the financial year 2010, according to sources attached to the company.
Almost all the operations of the company-feed milling, poultry breeder farming, broiler farming and processed chicken sales, sale of poultry equipment, and provision silo and warehouse complexes are believed to have performed exceptionally well boosting company's revenue and profitability.
It is also learnt that despite the impressive performances, the company may not announce a year ended dividend as it is planning capital intensive investments in 2011.
Further the company seems to be bullish on expanding the number of farms it is currently having to the Northern and Eastern areas of the country. The company has added four new and modern environmentally controlled broiler farms during the year, and is likely to continue to increase its farm capacity in the coming years.
The company has reportedly been able to keep its financial cost low as the Sri Lankan rupee appreciated from Rs.111 to 113 against the US dollar. The company's profitability was slightly impacted last year due to the depreciating rupee despite the firm being able to reduce finance cost by 45 percent.
GRAN recorded a net pro?t of Rs.72 million for the year ended 2009 against a loss of Rs.125 million in 2008, an improvement of Rs.197 million.
However it is believed that the high import CESS on maize imposed by the government may have affected the cost of production as the maize prices went up by over 10 percent.
Ceylon Grain Elevators manufactures and distributes a range of poultry products under the Prima and Farmers' Choice. Its subsidiaries include Three Acre Farms PLC, Ceylon Pioneer Poultry Breeders Limited, Ceylon Livestock & Agrobusiness Services (Pvt.) Limited, Ceylon Warehouse Complex (Pvt.) Limited, Ceylon Aquatech (Pvt.) Limited and Millennium Multibreeder Farms (Pvt.) Limited
http://print.dailymirror.lk/business/127-local/36006.html
Ceylon Grain Elevators PLC (GRAN), one of the stocks that created much sensation in the Colombo bourse in the recent past, is believed to have posted impressive results for the financial year 2010, according to sources attached to the company.
Almost all the operations of the company-feed milling, poultry breeder farming, broiler farming and processed chicken sales, sale of poultry equipment, and provision silo and warehouse complexes are believed to have performed exceptionally well boosting company's revenue and profitability.
It is also learnt that despite the impressive performances, the company may not announce a year ended dividend as it is planning capital intensive investments in 2011.
Further the company seems to be bullish on expanding the number of farms it is currently having to the Northern and Eastern areas of the country. The company has added four new and modern environmentally controlled broiler farms during the year, and is likely to continue to increase its farm capacity in the coming years.
The company has reportedly been able to keep its financial cost low as the Sri Lankan rupee appreciated from Rs.111 to 113 against the US dollar. The company's profitability was slightly impacted last year due to the depreciating rupee despite the firm being able to reduce finance cost by 45 percent.
GRAN recorded a net pro?t of Rs.72 million for the year ended 2009 against a loss of Rs.125 million in 2008, an improvement of Rs.197 million.
However it is believed that the high import CESS on maize imposed by the government may have affected the cost of production as the maize prices went up by over 10 percent.
Ceylon Grain Elevators manufactures and distributes a range of poultry products under the Prima and Farmers' Choice. Its subsidiaries include Three Acre Farms PLC, Ceylon Pioneer Poultry Breeders Limited, Ceylon Livestock & Agrobusiness Services (Pvt.) Limited, Ceylon Warehouse Complex (Pvt.) Limited, Ceylon Aquatech (Pvt.) Limited and Millennium Multibreeder Farms (Pvt.) Limited
http://print.dailymirror.lk/business/127-local/36006.html
