Sunshine Holdings reports Rs 5.1b turnover for 2005/06

Sunshine Holdings Limited (SHL) and its subsidiary companies Swiss Biogenics Limited, Watawala Plantations Limited, Sunshine Travel and Tours Limited and Sunshine Packaging Limited reported a turnover of Rs. 5.1 billion for 2005-06, up Rs. 388 million over the previous year.

Group profit after tax was Rs. 302 million, an increase of Rs. 37 million or 14 per cent over Rs. 265 million reported last year. Profit attributable to shareholders was Rs. 143 million for the year under review, an increase of 12.9 per cent.

The total assets of the group rose to Rs. 4.1 billion as against Rs. 3.2 billion reported last year, a healthy increase of 28 per cent. Net assets per share rose to Rs. 54.94 as at March 31, 2006 from Rs. 30.75 at the end of the previous year, and represented a noteworthy growth of 79 per cent.

In his review of these results the new Chairman Rienzie T. Wijetilleke said: "Each of our business units made strong progress, and finished the period well positioned to take advantage of the opportunities for stable growth in the year 2006-07. During the last year SHL again demonstrated its ability to provide shareholders with sound returns and achieved the Group's financial and operating targets."

"Across the Group we continue to share knowledge and skills, and are increasingly focusing on resources such as IT and human resources across all companies," he said.

In light of the sound performance by the Group, its Board of Directors has proposed a dividend of 15 per cent. A key contributor to the increased turnover of the company was the Rs. 2.28 billion turnover reported by Swiss Biogenics Limited, the largest private marketer of phamaceuticals, surgicals, diagnostics and healthcare products in Sri Lanka.