Cargills PLC, a subsidiary of CT Holdings, recorded losses for the group in its second quarter financial results amounting to Rs.144.2 million compared to the previous year’s figures that indicated profits at Rs.123.4 million during the same period.
Cargills will be looking at furthering the dairy production as it continued to gain profitability growing by 8 per cent and in this respect would be eyeing an increase in volumes as well, the company stated. As part of its re-structuring decision, the company had accrued losses but were looking at ensuring profitability in the second half of 2014 and beyond.
Exiting the soft alcohol sector had cost the company a loss of Rs.116 million for the quarter but recovery of these were expected upon the conclusion of the disposal of this investment, the company noted. (SD)
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