Touchwood posts impressive turnover and profits

Touchwood Investments Ltd (TIL), which commenced operations seven years ago in 1999, has recorded a turnover of Rs. 300 million for the six month period ended September 30, 2006 and a profit after tax of Rs. 174 million. The Net Asset Value per share increased by 41%, recording Rs. 136.31 for the six months ending September 30, 06 and the Earning Per Share increased by 12% to record 19.53 over last year's six months.

TIL's principal line of business is private forestry plantations which helps to stop the destruction of rainforests while generating income for our clients. TIL manages over 1,000 acres of private forestry plantations on behalf of over 14,000 clients around the world. With a true triple bottom line concept, Touchwood builds communities and provides employment to indigenous people and helps alleviate poverty whilst protecting the environment.

TIL has come a long way since 1999 as a member of the Touchwood Group which has operations in Thailand, Hong Kong, Australia, Dubai, Malaysia, Qatar, China and South Korea. TIL maintains the position as the leader in the country in managed private forestry.

Among future plans TIL is looking at expanding into banking, timber flooring from renewable resource and processed forest products. TIL has obtained ISO 9001 AND 14000 certification and is the only ISO certified managed private forestry company in Sri Lanka. The company introduced new products, Sandalwood and exotic Agarwood in addition to the well established and maturing stocks of Mahogany and Vanilla.

TIL plans to introduce super teak into the product range in Sri Lanka, expecting to further strengthen its dominant position in the market and provide investors with added security through the variety of high value timber grown. TIL has increased the depth of their technical expertise by adding two of the world's leading forestry experts from the USA further supporting the development of company forests.

TIL nurseries and forests are already considered world class.