Elpitiya Plantations PLC consists of 13 estates, situated in the upper, mid and low country regions of Sri Lanka, cultivating tea, rubber, oil palm and coconut. The company has a significant stake in Sri Lanka’s only privately-owned palm oil mill and operates several mini-hydro power plants on its own estates.
"At the point of takeover by blue-chip conglomerate Aitken Spence in 1997, Elpitiya Plantations was dependent on tea and facilities were in a dilapidated state. The new management embarked on a strategy of crop diversification, efficiency improvement and human resources development for the company’s growth," Aitken Spence said in a statement.
New Peacock estate in mid-country and Talgaswela estate in low country were the highest contributors to Elpitiya’s exceptional performance during the financial year.
Dr. Rohan M Fernando, Director and Head of Business Development & Plantations of Aitken Spence PLC and the Managing Director for Elpitiya Plantations PLC said, "Our strategies to optimally utilize the resources inherent in our estates and enhance the capabilities of our staff to generate sustainable growth to the company have proven fruitful. We will continue to look at ways to innovate in our cultivation and production processes as well as in our marketing, looking at new avenues for growth".
The company reaped substantial returns from on its mini-hydro power projects and from its investment in the joint-venture palm oil mill.