Lanka Walltile Limited (LWL) continues on its exceptional and increased performances in recent years as was evidenced from its released provisional (before audit) financial statement for the year 2006/07.

The company showed a 16% increase in its turnover when compared to the previous year by achieving a sale of Rs.911 million against Rs.786 million. The profit after tax also registered a 16% growth at Rs.145 million this year (subject to audit) against Rs.125 million in 2005/2006. Earnings per share also increased from Rs.3.84 to Rs. 4.47.

Whilst LWL showed extremely healthy growth in very difficult local market situations and competitive export markets, during the year under review, the Group consisting of Lanka Walltile Meepe (Pvt) Limited, its fully owned subsidiary, Lanka Tiles Limited, the Floor Tile manufacturer, Unidil Packaging Limited, the carton manufacturing company and Ceetee Plantations Limited, the Management Company of Horana Plantations, collectively, also performed well.

Group turnover registered Rs. 5.7 billion as against Rs.4.9 billion the previous year, an 18% growth with profit after tax and after minority interest registering Rs.335 million as against Rs.282 million the previous year, which is a 19%, increase. All these figures are subject to audit. The Group earnings per share increased from Rs.8.68 to Rs.10.32.

"LWL has been aggressively promoting its wall tiles with a constant revamping of new and exciting designs displayed at its Nawala Showrooms and throughout its network of distributors islandwide" explained Lucky de Chickera, the Company Managing Director. are also aggressively pushing our export sales in the US, Canada, Hong Kong, Singapore and Australia through participation at international exhibitions and personalized visits to distributors and agents in these countries," he added.

LWL personnel also visited the 21st Chinese International Ceramic Industry Exhibition in Guangzhou Province, Southern China between 30th May to the 2nd of June 2007 to source new materials, machinery and pigments. "This is the third consecutive year we have visited this exhibition and each year it keeps getting better and better," de Chickera commented.

"The competition amongst the suppliers is getting stronger and more acute, whilst the technology is improving by leaps and bounds."

LWL is looking at sourcing much of its requirements from China due to its lower costs and improving quality.