Malwatte achieves record performance
Malwatte Valley Plantations Plc has achieved a record turnover of Rs
2.2 Billion according to its unaudited Provisional Financial Statement
for the year ended December 31, 2007. 29% more than the previous year.
The operational profit has risen by 80 per cent from Rs 287 Mn to Rs.
540 mn. compared to the previous year.
Nett profit for the period increased to Rs 400 Mn as against Rs. 281
Mn in the previous year. The earnings per share is Rs 17.84 which is
among the highest of all plantation Companies.
This has increased from Rs 10.84 compared to the corresponding period
last year. These results have been achieved inspite of approximately Rs
100 Mn additional cost incurred by the Company during November and
December 2007 for the gratuity and wage increase impact brought into
effect in November last year.
The increases in costs in fuel, electricity and fertiliser have also
cost the company a considerable amount during the period under review
and the profit achieved inspite of these increases achieves greater