Pamodi Kuruppu
Lanka Milk Foods (CWE) PLC, has posted a profit after tax of Rs. 68 million for the year compared to Rs.44 million in the previous year.
All Group companies contributed to the overall group performance, led by Ambewela Products, recorded a turnover of Rs. 955 million against Rs. 848 million in the previous year, the company said.
The LMF Group earned revenue of Rs. 3,952 mn. During the financial year under review, while the Group Gross Profit reached Rs. 310 mn. LMF’s strategy to enliven the revenue mix and exercise greater cost controls has helped drive profitability for the group in the year under review, Chairman Harry Jayewardene said.
The LMF group has embarked on milk, yoghurt and cheese production by leveraging on strategic promotions in each product line, which has helped to boost sales andrevenue growth in the dairy sector. Lakspray experienced a turnover increase of 8% over the previous year, while Daily (200 ml) improved its sales by 14%, with a 13% increase in cases sold.
There was also a rise in fresh milk consumption in the public during the year, and Ambewela Fresh Milk mirrored this trend, improving its turnover by 10%. A significant increase was witnessed in the Non Fat Fresh Milk category, with an increase in sales by 15%.
Ambewela Dairy Farm and New Zealand Dairy Farm are well-positioned to provide the raw material required for the said factories, namely, best quality fresh milk full of nutritive value. Hence, Lanka Milk Foods Group is well focused on meeting the future demand of excellent quality milk and milk related products in the country.
DCS Jayawardane, Directress of Lanka Milk Foods, points out that the shortage of high quality raw milk to meet the increasing liquid milk demand will continue to pose an obstacle to meeting the needs of the sector. Simultaneously, the increasing import duty on imported milk powder will continue to make milk powder a luxury and not a necessity, as should be the case for the citizens of the country. However despite all these things she thinks that the Company has a bright future.
www.dailynews.lk
Lanka Milk Foods (CWE) PLC, has posted a profit after tax of Rs. 68 million for the year compared to Rs.44 million in the previous year.
All Group companies contributed to the overall group performance, led by Ambewela Products, recorded a turnover of Rs. 955 million against Rs. 848 million in the previous year, the company said.
The LMF Group earned revenue of Rs. 3,952 mn. During the financial year under review, while the Group Gross Profit reached Rs. 310 mn. LMF’s strategy to enliven the revenue mix and exercise greater cost controls has helped drive profitability for the group in the year under review, Chairman Harry Jayewardene said.
The LMF group has embarked on milk, yoghurt and cheese production by leveraging on strategic promotions in each product line, which has helped to boost sales andrevenue growth in the dairy sector. Lakspray experienced a turnover increase of 8% over the previous year, while Daily (200 ml) improved its sales by 14%, with a 13% increase in cases sold.
There was also a rise in fresh milk consumption in the public during the year, and Ambewela Fresh Milk mirrored this trend, improving its turnover by 10%. A significant increase was witnessed in the Non Fat Fresh Milk category, with an increase in sales by 15%.
Ambewela Dairy Farm and New Zealand Dairy Farm are well-positioned to provide the raw material required for the said factories, namely, best quality fresh milk full of nutritive value. Hence, Lanka Milk Foods Group is well focused on meeting the future demand of excellent quality milk and milk related products in the country.
DCS Jayawardane, Directress of Lanka Milk Foods, points out that the shortage of high quality raw milk to meet the increasing liquid milk demand will continue to pose an obstacle to meeting the needs of the sector. Simultaneously, the increasing import duty on imported milk powder will continue to make milk powder a luxury and not a necessity, as should be the case for the citizens of the country. However despite all these things she thinks that the Company has a bright future.
www.dailynews.lk
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