Looks forward to export market in India
Keells Food Products PLC, the country’s biggest meat processor established in 1982, has posted its best ever year ended March 31, 2016 with revenue up 16% to Rs. 3.03 billion and profit after tax up 28% to Rs 334.7 million.
"KFP continued to deliver a strong performance which resulted in the company achieving its best performance to date in terms of top-line and bottom-line, surpassing the records set in 2014/15," the Company’s Chairman, Mr. Susantha Ratnayake, has told shareholders in recently released annual report.
He expected opportunities in export markets as likely to produce positive results in the current financial year (2016/17) saying that during the last two years their exports to India had been hindered by changes in regulations at the point of entry.
Keells Food Products PLC, the country’s biggest meat processor established in 1982, has posted its best ever year ended March 31, 2016 with revenue up 16% to Rs. 3.03 billion and profit after tax up 28% to Rs 334.7 million.
"KFP continued to deliver a strong performance which resulted in the company achieving its best performance to date in terms of top-line and bottom-line, surpassing the records set in 2014/15," the Company’s Chairman, Mr. Susantha Ratnayake, has told shareholders in recently released annual report.
He expected opportunities in export markets as likely to produce positive results in the current financial year (2016/17) saying that during the last two years their exports to India had been hindered by changes in regulations at the point of entry.
"It is heartening to note that these regulations have been relaxed during the fourth quarter of the year under review and we are hopeful of recommencing our exports to India during the 2016/17 financial year," Ratnayake said.
He reported that KFP has developed sustainable procurement sources for meat, vegetables and spices with networks which comprise mainly of small to medium scale farmers. Guaranteed prices provided an incentive to increase production. Also, a reputation for fair play and technical support by their team of visiting specialists helped ensure quality and best practice awareness.
KFP enjoys exports markets in India, Maldives and the UAE with 70% of its revenue generated by its range of sausages and 19% earned by ready-to-fry crumbed meat products.
The report said that the establishment of out-grower models for chicken, pork, spices and vegetables in previous years had facilitated a sustainable supply chain with stable prices, volumes, and most importantly quality.
The year under review saw the company increasing its dividend payout 120% to Rs. 285 million from Rs 127.5 million a previous year. Earnings per share were up by 28% to Rs. 13.13 from Rs. 10.25 a year earlier while cash earnings per share had grown to Rs. 20.92 from 17.28.
KFP has a stated capital of Rs.1.294 billion, revenue reserves of Rs.277.4 million and other equity components to Rs 197.2 million. Total assets ran at over Rs.2.4 billion and total liabilities at Rs.317.6 million.
The Directors of the Company are Messrs: S.C. Ratnayake (Chairman), A.D. Gunawardene, J.R.F. Peiris, J.R. Guneratne, R.Pieris, S.H. Amarasekera, PC, A.D.E.I. Perera and M.P Jayawardena.
He reported that KFP has developed sustainable procurement sources for meat, vegetables and spices with networks which comprise mainly of small to medium scale farmers. Guaranteed prices provided an incentive to increase production. Also, a reputation for fair play and technical support by their team of visiting specialists helped ensure quality and best practice awareness.
KFP enjoys exports markets in India, Maldives and the UAE with 70% of its revenue generated by its range of sausages and 19% earned by ready-to-fry crumbed meat products.
The report said that the establishment of out-grower models for chicken, pork, spices and vegetables in previous years had facilitated a sustainable supply chain with stable prices, volumes, and most importantly quality.
The year under review saw the company increasing its dividend payout 120% to Rs. 285 million from Rs 127.5 million a previous year. Earnings per share were up by 28% to Rs. 13.13 from Rs. 10.25 a year earlier while cash earnings per share had grown to Rs. 20.92 from 17.28.
KFP has a stated capital of Rs.1.294 billion, revenue reserves of Rs.277.4 million and other equity components to Rs 197.2 million. Total assets ran at over Rs.2.4 billion and total liabilities at Rs.317.6 million.
The Directors of the Company are Messrs: S.C. Ratnayake (Chairman), A.D. Gunawardene, J.R.F. Peiris, J.R. Guneratne, R.Pieris, S.H. Amarasekera, PC, A.D.E.I. Perera and M.P Jayawardena.
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