Switch between our dark and light theme.
see posts from by tagged as
Recent » posts replies

  • #LCEY future very good

  • After acquiring the controlling stake of C W Mackie with its plantation portfolio Lankem is very strong in its future. It will hit after releasing the march quarter result. So forum members please keep on eye #LCEY share. It will have long upside potential. What is your opinion? Read following article published on Sunday Times 2010/03/07

    Lankem to export agriculture crops
    By Duruthu Edirimuni Chandrasekera
    Lankem Ceylon PLC (Lankem) is expected to exploit export agriculture crops through its subsidiaries Sunagro Farm Ltd to the Middle East and the Maldives, a company official said. “We completed the trial and a pilot run has already begun on cultivating vegetables such as asparagus that will mainly target the export market segment,” K. P. David, Lankem Director Finance told the Business Times. He said in addition to this fruits will also be cultivated and exported in the near future.

    Mr. David also said that during the quarter ending 31st December 2009 , the Lankem Group has performed exceptionally well to record a post tax profit of Rs 425 million against a loss of Rs 89.6 million for the corresponding period in 2008.

    Revenue increased by 40% to Rs 3.5 billion during the immediate quarter while the cumulative revenue for the nine months increased by 6% to Rs 8.3b billion. Mr. David said that a strong contribution from the plantations sector that consist of Kotagala Plantations, which mainly cultivates tea, rubber and Agarapathana Plantations that is mainly into tea was the driving factor during December 2009. Analysts said the upward trend in commodity prices will continue with the economic recovery and that in time to come it is anticipated the quantities demanded in these commodities will also increase.

    The company’s chemical sector (Agro chemicals, Industrial Chemicals representing around 50% of local market share) and paints which contributes 35% to the cumulative revenue of the company saw a growth in performance during the December-end quarter while the consumer, hardware, constructions and hotels segments have under-performed during the nine months due to the drop in tourist arrivals. The company has three hotels in Sri Lanka: Club Palm Bay- Marawila, Sigiriya Village and Royal Palms in Beruwala.

    An analyst said that acquiring the controlling stake of C W Mackie has seen Lankem diversify its product portfolio. “This has strengthened their distribution channels. In addition C W Mackie that has an annual turnover exceeding Rs 4 billion on average which would definitely add value to the earnings of the Lankem Group in the future,” he said.

    share your views?
  • 2 replies, fair investe 8 Mar 10 posted by hdasoka, 7 Mar 10
This post has been viewed 203 times, by 4 logged-in users the last being fair investe.
Invite people to participate...

Login and invite friends to participate!

  • reply from fair investe, 8 Mar 10
  • This is taken from last year annual report
    In the past financial year, Lankem Ceylon PLC has invested into a new subsidiary SunAgro Farms Ltd. This company has acquired lands in the
    North Western Province with the aim of growing high value agricultural crops for export markets in Europe and the Middle East. The first sales
    from this company are expected in the New Year. I believe that as we reach maturity in some of the business areas that we have entered, the
    Company must continue to look at ways it can leverage the knowledge it has gained to enter into businesses that will provide it with further
    growth and enhanced profitability.
  • reply from fair investe, 8 Mar 10
  • This is about #LCEY new subsidary
    http://www.sunagrofarms.lk/

To reply to this post...
Register (it's free, top-right) - or - if you have an account then login!

{#} Use # when referring to a stock to help people locate posts and replies related to that stock.ex: #JKH or #SPEN, no company names and remember to keep NO SPACES between the # and the stock symbol.