CB policy moves bring desired results

By Gamini WARUSHAMANA

Policy moves adopted by the Central Bank (CB) and the Government from February this year to re-balance the external sector of the economy are delivering expected results, a CB monetary policy review released last week stated. It stated that credit growth curtail and reduction of import demand have helped to achieve external sector stability.

He commended the CSR initiative of the company which has brought tremendous benefit specially to the rural masses. Dr Jayasundara said that 200 percent growth achieved in exports during the past ten years was remarkable and that CBL's international distributors have become partners of its community-oriented business practices.

The financial performance of the past year was reviewed and it was revealed that CBL as a group had achieved a growth of over 17 percent during the financial year 2011/12. All product ranges marketed by CBL have recorded substantial growth during the last financial year as illustrated in the sales manager's presentation.

Growth was impressive due to fierce competition from local and imported products which prevailed in a turbulent environment.

Students who have pursued higher studies with assistance given by the company under the Munchee Tikiri Shishyadara program were also highlighted. Kalpana Piyumali of Badulla spoke of the achievement she had gained due to the financial assistance given by CBL. Chairman, Mineka Wickramasingha said the Company would provide additional support to pursue her university education.

Kurunegala Territory Sales Officer, Sanjaya Ratnayaka bagged the CBL Star award as the 'Most Outstanding Sales person' of the company for 2011/12 at the annual distribution convention. Chairman CBL presented the Award. Sanjaya also won the Senior Star Award of the A range which comprises sales team handling and chocolates and cakes sales. Meanwhile, the Senior Star award of the B range was awarded to Territory Sales Officer of Hanwella, Lal Kumara Liyanage for his outstanding performance in Munchee Biscuit sales.

Territory Sales Officer in Gampola, Dilshan Fernando was the recipient of the Senior Star Award of the C range. Meanwhile, Operation Double S was launched as the theme for the financial year 2012/13.

“CBL has a theme for every financial year, our theme for 2000/01 was to be number one and we became the market leader during that year” said Group Director and Head of Marketing and Sales, Nandana Wickramage.

Several products were also launched under Munchee, Ritzbury, Samaposha and Lankasoy brands.

Another significant event was the selection of Dinesh Chandimal , who is a national cricketer as brand ambassador of the Samaposha Four Grain Bar (4GB).

CBL also launched a new range of snacks targeting the young adult market. “These products are expected to contribute towards the growth of the Company’s business activities during the current financial year”, a spokesman of the Company said.