‘CIC Holdings PLC recorded impressive financial results during the second Quarter of the FY 2014/2015 ending 30 September 2014. Group Turnover of the diversified entity grew to Rs.11,235 mn for the period 1 April to 30 September 2014 a 7 percent increase against the corresponding period in 2013. Profit After Tax (PAT) from continuing operations was Rs. 513 million at the end of Q2, an eight fold increase over the previous year. Consumer, Healthcare, Agriculture & Livestock segments contributed significantly to the group’s turnover, a press release said.
‘Profits from the continuing businesses have increased by 149% and 723% for the company and group respectively. This is mainly due to the increase in revenue and the company’s continuous focus on controlling operational costs. Profit increases in the Consumer and Healthcare segment, the Packaging segment and the Industrial Raw Material segment increased by 167%, 52% and 13% respectively. Despite the reduction of the share of profit of equity accounted, these businesses have contributed significantly to the group’s overall improved financial performance.
‘Improvement in the group’s continuing operations has resulted in the increase of the earning per share-continuing operations five folds to Rs.3.93. CIC Holdings’ Agriculture and Livestock arm and its Consumer and Healthcare segments contributed to 86% of turnover and 81% of operative results.
‘CIC’s CEO and Managing Director S. P. S. Ranatunga commenting on the group’s exceptional Q2 performance said, "I am pleased with the impressive financial results the company has achieved in this financial Quarter. The outstanding performance of each business unit has helped CIC Holdings PLC excel as a group and following our dynamic re-strategizing initiative, we are well on track towards our annual revenue and profit targets. Agriculture, Livestock and Healthcare remain our key areas of focus as we continue to contribute to the well-being of the nation and its people. The government has put the necessary policies in place to support the growth of both the agricultural and healthcare industries and I remain confident that these policies will continue to assist us in our efforts to further develop these business areas."
‘CIC has been a leading blue chip conglomerate in Sri Lanka for decades and its business portfolio extends into the areas of agriculture, animal feed, nutrition, healthcare, industrial materials and consumer products.
www.island.lk
‘Profits from the continuing businesses have increased by 149% and 723% for the company and group respectively. This is mainly due to the increase in revenue and the company’s continuous focus on controlling operational costs. Profit increases in the Consumer and Healthcare segment, the Packaging segment and the Industrial Raw Material segment increased by 167%, 52% and 13% respectively. Despite the reduction of the share of profit of equity accounted, these businesses have contributed significantly to the group’s overall improved financial performance.
‘Improvement in the group’s continuing operations has resulted in the increase of the earning per share-continuing operations five folds to Rs.3.93. CIC Holdings’ Agriculture and Livestock arm and its Consumer and Healthcare segments contributed to 86% of turnover and 81% of operative results.
‘CIC’s CEO and Managing Director S. P. S. Ranatunga commenting on the group’s exceptional Q2 performance said, "I am pleased with the impressive financial results the company has achieved in this financial Quarter. The outstanding performance of each business unit has helped CIC Holdings PLC excel as a group and following our dynamic re-strategizing initiative, we are well on track towards our annual revenue and profit targets. Agriculture, Livestock and Healthcare remain our key areas of focus as we continue to contribute to the well-being of the nation and its people. The government has put the necessary policies in place to support the growth of both the agricultural and healthcare industries and I remain confident that these policies will continue to assist us in our efforts to further develop these business areas."
‘CIC has been a leading blue chip conglomerate in Sri Lanka for decades and its business portfolio extends into the areas of agriculture, animal feed, nutrition, healthcare, industrial materials and consumer products.
www.island.lk
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