FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Sri Lanka Finlays estates diversify crops Vote_lcap68%Sri Lanka Finlays estates diversify crops Vote_rcap 68% [ 178 ]
Sri Lanka Finlays estates diversify crops Vote_lcap18%Sri Lanka Finlays estates diversify crops Vote_rcap 18% [ 47 ]
Sri Lanka Finlays estates diversify crops Vote_lcap13%Sri Lanka Finlays estates diversify crops Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» RENUKA AGRI FOODS PLC (RAL.N0000)
by soileconomy Today at 2:56 am

» CLC placed on a Slingshot . . . !!!
by cseguide Yesterday at 11:30 pm

» SUNSHINE HOLDINGS PLC (SUN.N0000)
by LHW Yesterday at 10:35 pm

» WATAWALA PLANTATION PLC (WATA.N0000)
by Niwa Yesterday at 10:22 pm

» ELPL-WATA-UDPL
by Niwa Yesterday at 10:14 pm

» Dusit Thani Sri Lanka project halted?
by js71 Yesterday at 8:48 pm

» BOGALA GRAPHITE LANKA PLC
by cheetah Yesterday at 8:19 pm

» WATA good times are ahead
by cseguide Yesterday at 8:16 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by jaya Yesterday at 6:50 pm

» EXPO/BILL/LOLC
by SAGA Yesterday at 6:35 pm

» The fate of NIFL .. CLC .. LOFC under LOCH
by Shivanthini Yesterday at 3:57 pm

» CLC - Bull & Bear LOCKED HORNS - can blast at any time.
by Shivanthini Yesterday at 3:55 pm

» CFLB hidden gem
by skyfall Yesterday at 2:13 pm

» LLUB Dividend
by rajithasahan Yesterday at 1:49 pm

» GLAS will be winner with Super Gain.
by invest thinker Yesterday at 11:36 am

» Next Bull - ELPL/Elpitiya Plantation
by Tissa Yesterday at 6:31 am

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by Ekanayake90 Sun Oct 24, 2021 9:52 pm

» What happen to Dhammika Perera
by Basu Sun Oct 24, 2021 8:48 pm

» AEL becomes the major producer & supplier of asphalt concrete in Sri Lanka
by samaritan Sun Oct 24, 2021 3:44 pm

» KOTAGALA PLANTATION PLC (KOTA.N0000)
by Tissa Sun Oct 24, 2021 11:38 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka Finlays estates diversify crops

Sri Lanka Finlays estates diversify crops

Go down  Message [Page 1 of 1]

Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
May 22, 2012 (LBO) - Sri Lanka's Hapugastenne and Udapussellawa Plantations, controlled by James Finlays said losses were making it difficult to replant tea but they were trying to improve productivity and was expanding rubber and timber.

Hapugastenne Plantations lost 214.00 million rupees in the year to March 2012, reversing a profit of 281 million rupees a year earlier.
Chairman N K H Ratwatte said Colombo's tea auction average prices fell 10.72 during the year while a 27.0 percent wage hike had pushed up labour by 373.00 million rupees to the firm.

Erratic weather had reduced production and uncertainty in the Middle East had depressed prices.

"Due to the financial burdens created by the drop in revenue, and the shortfall of working capital during the year, we were compelled to cut back on our tea replanting," Ratwatte told shareholders in the annual report.

However the firm had invested 130.00 million rupees in rubber and other crops like cinnamon, pepper and cocoa to diversify revenues. Eighty five hectares were planted with timber to increase future fuel wood production.

Chief executive Dayan Medawala said average tea prices had fallen by 20.00 rupees a kilo and cost of production had risen to 415.00 rupees a kilogram but overall cost of production was lowered to 375.56 rupees with out-grower leaf.
One factory had been converted to the crush-tear-curl (CTC) type of production.

Efforts were also under way to improve productivity.

"We have also continued our mechanisation programme with shear harvesting where 35.0 percent of the pluckers are on shears and this has gained popularity amongst the younger generation which augurs well for the future," Medawala said.

At Udapussellawa Plantations, another firm controlled by Finlays, about 25.0 percent of pluckers were using shears instead of plucking by hand.

Though rubber production was down 7.0 percent due to bad weather, prices were higher by 105.00 rupees a kilogram at a sales average of 452 rupees.

"As a result, our rubber sector made a significant profit and the revenue generated helped mitigate the loss on tea to a great extent," Medawala said.

"With the buoyancy in the rubber sector, planting of new rubber was expedited and several marginal tea lands too were diversified into rubber, and almost 188 hectares were planted during the year.

"We see a global shortfall of natural rubber in the future, with corresponding firm prices, which augurs well for this sector."

Rubber is also less labour intensive.
http://lbo.lk/fullstory.php?nid=1063868597

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum