Lanka Milk Foods (CWE) Ltd. (LMF) has recently
recorded Rs. 100.7 million net profits compared to the loss of
Rs. 32.5 million incurred during the FY 2004/05 despite the
unfavorable market conditions in FY 2005/06.
LMF Chairman Dr. V.P. Vittachi addressing the
shareholders in the company annual reports states that through
the CIF price of full cream milk powder in the world market
continued to be high and value of Sri Lanka Rupee continued to
decrease against the US $ the company has ‘bounced back’ to its
usual level of profit, mostly due to the vigilant and
experienced purchasing practices adopted by the management.
During the period in focus the LMF has continued
to import, pack and sell the well-known brand; ‘Lakspray’ full
cream milk powder, and ‘Lakspray Trim’ the non fat milk powder.
In addition the company has continued its operations in selling
‘Happy Cow Cheese’ and ‘Mars Chocolates’.
"At Lanka Dairies (Pvt.) Ltd., the newly
launched one litre ‘Ambewela Farm Fresh Milk’ pack is a great
success. Subsequently the company launched a smaller 200ml pack
of ‘Ambewela Farm Fresh Milk’. In addition to this the ‘Daily’
pack has now reached a satisfactory level of sales, which
includes a reasonable export market," he stated.
In FY 2005/06 the LMF turnover has increased by
27.79 per cent from Rs. 2,118 million in 2004/05 to 2,706
million. The LMF consolidated which includes the subsidiaries;
Lanka Dairies (Pvt.) Ltd., Danish Dairy Products Lanka (Pvt.)
Ltd., Ambewela Livestock Company Ltd., and Pattipola Livestock
Company Ltd. has also recorded a 26.72 per cent increase in
turnover from Rs. 2.37 billion to Rs. 3 billion during the
period in focus.
