|
|
 |
 |
| Sunday, 28 December 2003 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Touchwood record Rs 2.9 million profit Touchwood Investment Ltd (TIL) the pioneer public quoted company marketing and managing investment in Mahogany plantation recorded a turnover of Rs 32.2 million for the first 6 months ended 30th September 2003.This is a 10% increase over the same period for the previous financial year 2002 /2003. TIL post tax profit during the first six months of 2002/2003 is Rs 2.9 million. Net assets too have gone up by 152 percent. TIL has a woodlot customer base of over 1400 and have planted nearly 100,000 Mahogany trees in over 400 acres, spreading across nine sites located in Ayagama, Matugama,Eheliyagoda,Gawaragiriya and Kuruwita areas. TIL is expect to commence its Marketing operations overseas towards early next year and this will help to increase its turnover and profit by at least 50 percent. TIL purchase large lands and demarcate in to smaller lots of one acre,1/4 acre,plant the appropriate number of Mahogany trees per lot and offer it to the public as a managed investment in private forestry.TIL manages the Mahogany forest plantations until harvest.
|
|
News | Business | Features
| Editorial | Security Produced by Lake House |
