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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Ceylon Tea Brokers musters Rs. 278.27 m turnover for 2014/15

Ceylon Tea Brokers musters Rs. 278.27 m turnover for 2014/15

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Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Ceylon Tea Brokers PLC registered Rs. 278.27 million as revenue during the 2014/15 financial year compared to Rs. 259.20 million in 2013/14.
The gross profit for the year under review accounted for Rs. 209.54 million as against 202.56 million in 2013/14 and Profit Before Tax (PBT) of Rs. 72.86 million as against Rs. 77.23 million in 2013/14 was achieved said, Suranga Perera, Director / Chief Executive Officer in the annual report.
“In view of the diluted demand from some of the key international markets for Ceylon Tea, resulting in sharply declining auction prices, the company implemented strategies to intensify effortsto improve the operational efficiencies and also focus on the cost factors that could be reduced without disturbing the quality of service.
These changes which were carried out with the concurrence of the entire team made sure that everyone understood the importance of a lean but an efficient operation in moving forward at this crucial juncture.”
“At the risk of creating controversy, we are of the view that we should examine the hotly debated topic of making Sri Lanka a Tea Hub without compromising the inherent value of marketing Pure Ceylon Tea.
We believe that there could be a happy medium said Ceylon Tea Brokers PLC, Chairman.Chrisantha Perera.
“When analysing Sri Lanka’s tea export profile, it will be found that our exports to some of the major markets where we had a dominant position have declined, whilst exports to the so-called “Tea Hubs” such as UAE & Turkey have increased. In fact, Turkey is presently the single largest export outlet for our tea although it is likely that most of this tea is traded out of Turkey either to the neighbouring Middle Eastern countries or Russia & other CIS countries.”
“An encouraging trend which we must develop is the emergence of China as a potential large export outlet for our teas. A significant feature that has taken place in 2015 is also the substantially higher quantities of exports to India.
“We should endeavour to maximize the potential of our Free Trade Agreement with Pakistan.”
Airing their future plans he said that they would be investing in a Warehousing Complex. “This project is well underway with potential land identified as well as the incorporation of a separate Company for this purpose,” Ceylon Tea Brokers PLC, Chairman. Chrisantha Perera
Suranga Perera, Director / Chief Executive Officer
The Daily News business inadvertently carried Tea Traders Association musters Rs. 278.27 m turn over for 2014/15 on its August 21 issue. The error is regretted. 
Courtesy: Daily News 25 August 2015

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