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| DCSL Group in Rs. 13.4B
turnover, Rs. 3.6B net profit |
The Distilleries Company
of Sri Lanka Ltd (DCSL) Group has achieved a turnover of Rs.
48.7 billion for the year ended March 31, 2007 with the post-tax
profit of the Group at Rs. 3.6 billion, which Chairman
Mr. D.H.S. Jayawardena
describes as" due to greater economic activity
as a consequence of the relatively peaceful atmosphere during
the year.
Jayawardena has also expressed confidence that the Group will be
able to surpass the billion rupee profit target in the year
2006/2007. He has described the Group's diversification process
as one of the reasons for being one of the largest conglomerates
in the country which has significant interests in several strategic
sections of the economy.
He has also described the acquisition of the 28 percent stake
in Aitken Spence as being instrumental in the Group being exposed
to various sectors of the economy.
The liquor sector is still the largest in terms of revenue and
profit earner to the Group. With the volatility of the profits
in the other sectors, the liquor sector provides the consistency
that any diversified conglomerate needs to face changing business
climates, Jayawardena has told in his Annual Report to shareholders.
DCSL has reported an annual turnover of Rs. 46.7 billion and a
post tax profit of Rs. 3.6 billion during the period under review.
The company has also paid Rs. 9 billion to the Government as
taxes, an increase of 3 percent over the last year. The company
has paid over Rs. 78 billion to the Government since 1992, making
it one of the ten largest corporate tax payers in Sri Lanka.
He has stressed the need to revamp the entire insurance company
to be market oriented financial service provider and that the
Board of Directors was confident of investments made in the
sector were recoverable.
The Board of Directors of Distilleries Company of Sri Lanka
Ltd comprise: D.H.S. Jayawardene ( Chairman), R.K. Obeysekere, C.R. Jansz and
Niranjan Deva Aditya DL, FRSA, MEP.
L.U.D Fernando, MBA, FCMA (UK),
Capt. K. J. Kahanda (Retd.).
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