Malwatte Valley records all time high prices
Malwatte Valley reported singular 1Q and 2Q profits for 2013.
Despite an era of gloom in the industry, Malwatte Valley boasts of
having achieved the highest profit in the industry.
During the Quarter April–June 2013 with a inflexible wage hike
imposed on the industry in addition to escalation in costs of power,
fertiliser and climate change took a heavy toll of the industry.
Malwatte Valley Plantations PLC with its innovative changes in the
management of its cost factors and having achieved the highest prices
for its quality teas made a Rs.109 million profit, one of the highest
among RPCs. The gross profit of the tea sector of approx. Rs.100 million
surpasses profit for the corresponding period of the past year when the
crippling wage high in April 2013 was not effective.
The profit of Rs.160 million at the end of 2Q, 2013 is also among the
top earnings of RPCs’ in the country. |
