At company level, turnover was Rs.1.5 billion, up from Rs.1.3 billion the previous year, and the profit after-tax Rs.32.8 million, up from Rs.3.3 million a year earlier.
Mrs. A.M. Wijewardene, Chairperson/MD of the company, said that turnover was up 18.1% during the year under review while the pre-tax profit of Rs.40.3 million was slightly lower than the previous year’s Rs.41.1 million.
"We will continue to focus on improving distribution and the availability of our products across the country. We will further consolidate our efforts to enhance the brand image of our products during the year," she has told shareholders in the company’s annual report.
"Measures implemented to improve our working capital management will be streamlined further with the objective of reducing interest costs."
Swadeshi has a stated capital of Rs.1.3 million, reserves of Rs.8.6 million and retained earnings of Rs.113.8 million in its books.
Total assets ran at Rs.766.7 million and total liabilities at Rs.643.1 million.
The directors have recommended a dividend of Re.1 per share to shareholders.
Dr. T. Senthilverl is the largest single shareholder of the company with 35.41% followed by Mrs. A.M. Wijewardene (33.65%) and Sedawatte Exports Limited (19.43%).
The directors of the company are: Mrs. A.M. Wijewardene (Chairperson/MD), Messrs. V.M.J.A. Perera, T. Wijemanna, P.D. Samarasinghe, Mrs. C.S.M. Samarasinghe and D.L. de Saram.