Subsequently the net profit also rose from Rs.22.9 million to Rs.35 million. The Earnings Per Share for the 12 months ended had increased from 20 cents to 31 cents.
“Fourth quarter marked a greater end to a very successful year with over a 50% growth on net profit Year on Year. Our strong performance could be attributed to a strong team and continuous investments into IT related services as well as customer retention and the rapid growth in new business” a director of the company Waruna De Silva said.
He further added that the year 2010 & 2011 was seen as a year of consolidation. “The acquisition of the company by Capital Alliance Group in 2005 saw the company growing at a rapid pace”.
As at March 31, 2011 being the controlling shareholder of the company Capital alliance holds 83.7 percent of the company
“We look forward to a rapid business growth for the year ahead through our investments and that continues to be the case as evident in our strong business performance” de Silva said.
Tea broking in Sri Lanka comprises of many areas of integrated business activities such as marketing, warehousing, finance, technical advisory service, global tea market analysis, etc.
But according to Ceylon Tea Broker’s Chairman, CPR Perera, the Company, in its present operation, is a ‘stand-alone’ tea broker.
“We have no immediate plans for moving into other areas of business activity, but intend concentrating on our core business” he said in 2009/10 annual report of the company.
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