Kelani Cables has recorded a sales turnover of Rs.6.2 billion the highest in the history of the company during the financial year 2014-2015.
Kelani Cables Chairman Upali Madanayake in company's annual report for 2014-2015 said the company has performed extremely well and has recorded a sales turnover of Rs.6.2 billion, the highest in the history of the company. It was truly a remarkable achievement despite competition in the local market.
"Our team excelled by utilising all the resources available to achieve this record sales turnover. The sales growth year on year was around 18.6%. Our export sales grew by 50%, redistribution sales by 18.6% and institutional sales by 11.2% over the last financial year. Trading products such as bulbs, data and communication cables, cable accessories, insulating and masking tapes grew by 148%,"Madanayake said.
The company was able to safeguard the shareholder interest and ensure sustained growth despite competition in the local and international markets. The gross profit of the company grew by 18.1% over last year. Profit before tax recorded a growth of 43.3% and the bottom line grew by 51.6%.
Highlighting company's future expansion plans, Madanayake said that the new land is being developed to relocate the cutting and rewinding unit, central warehouse, and much needed cable drum storage yard; these initiatives will certainly improve our internal efforts to serve the customer better and reduce costs etc.
The export market will be enhanced by improving sales in Maldives and Bangladesh. We will expand our exports to Dubai, Seychelles and the African region.
www.dailynews.lk
Kelani Cables Chairman Upali Madanayake in company's annual report for 2014-2015 said the company has performed extremely well and has recorded a sales turnover of Rs.6.2 billion, the highest in the history of the company. It was truly a remarkable achievement despite competition in the local market.
"Our team excelled by utilising all the resources available to achieve this record sales turnover. The sales growth year on year was around 18.6%. Our export sales grew by 50%, redistribution sales by 18.6% and institutional sales by 11.2% over the last financial year. Trading products such as bulbs, data and communication cables, cable accessories, insulating and masking tapes grew by 148%,"Madanayake said.
The company was able to safeguard the shareholder interest and ensure sustained growth despite competition in the local and international markets. The gross profit of the company grew by 18.1% over last year. Profit before tax recorded a growth of 43.3% and the bottom line grew by 51.6%.
Highlighting company's future expansion plans, Madanayake said that the new land is being developed to relocate the cutting and rewinding unit, central warehouse, and much needed cable drum storage yard; these initiatives will certainly improve our internal efforts to serve the customer better and reduce costs etc.
The export market will be enhanced by improving sales in Maldives and Bangladesh. We will expand our exports to Dubai, Seychelles and the African region.
www.dailynews.lk
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