Raigam Wayamba Salterns Group turnover tops 1 bn

Raigam Wayamba Salterns PLC saw its group turnover increase from Rs. 959.6 million to Rs. 1,147 million recording a growth rate of 19.5% year on year.

Despite the fact that the financial year 2021/2022 was filled with many challenges, as a result of prudent management practices implemented and followed, the Raigam Wayamba Group was capable of reporting its ever-highest growth in 2021/2022,” said Chairman, Raigam Group, Dr. Ravi Liyanage.

The Group’s profit after tax grew from Rs. 149.7 million to Rs. 215.6 million at an annual growth rate of 44%. As a result of these successful financial performances the earning per share for the year stood at Rs. 0.76 compared to Rs. 0.53 in the corresponding year.

The Raigam Wayamba Salterns Group which was listed in the Colombo Stock Exchange (CSE) in 2010, is equipped with salterns, salt refineries and processing plants located in Puttalam and Hambantota districts. In addition to that, the raw material supply for these operations has been ensured by the 1,800 acre saltern established in Kuchchaveli in Trincomalee District by the parent company of the Raigam Group.”

As the industry does not depend on imported components other than packaging materials and few other consumables, the impact on foreign exchange issues was insignificant.

These progressive financial performances were timely published by the company on quarterly basis for the use of the investors of the share market and they had reacted positively demanding the shares of the company at satisfactorily higher levels.

Considering the satisfactory financial performance and the expectations of shareholders the Board of Directors of the company has proposed a dividend of Rs. 0.15 per share for the financial year 2021/2022.

The Raigam Wayamba Group launched its agriculture based new venture, Raigam Wayamba Cereals (Pvt) Ltd (RWC) in the financial year 2021/2022, which will engage in promoting cultivation of selected agricultural crops and value addition through agro-processing.

Under this project the RWC has established a state of the art warehouse complex and an agro-processing centre at Wellawa in the Kurunegala District. RWC also announced the launch of “Nenaposha”, manufactured according to a well-balanced formula using Corn, SoyBean, Green Gram and Rice; all are sourced from local farmlands.

These grains are cleaned, pre-cooked, extruded and machine packed in the process adhering to highest quality and hygiene standards.

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Author: shehan

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