Laxapana Batteries PLC, a member of the Colombo Fort Land and Building Group, has substantially boosted both revenue and profitability in the year ended Mar. 31, 2020, with revenue growing to Rs. 652.8 million from the previous year’s Rs. 480.2 million and the after tax profit more than trebling to Rs. 41.3 million from Rs. 11.3 million a year earlier.
Incorporated in 1956 as Elephant Lite Corporation Ltd., the company was the pioneer local manufacturer of dry cell torch and transistor batteries and continued this line of manufacture until its closure in 2012 due to the rapid drop in demand for D size batteries both locally and globally.
Vallibel Finance, the renowned brand of financial services recently expanded its network across the country, with its most recent branch openings in Ja-Ela and Thambuththegama. The two new branches will be able to support and allow better access to quick and efficient financial facilities to all those in the Colombo’s suburbs – Ja-ela and Northern part of the country Thambuththegama.
The Managing Director of Vallibel Finance Mr. Jayantha Rangamuwa, graced the occasion of the inaugural ceremony and proudly declared opened the two branches to the public amidst a distinguished gathering of loyal customers and well wishers.
“Adding up of the new two branches to our network is a significant achievement for us, as it allows us to reach out to more customers in the island. We, at Vallibel Finance have always made sure to maintain a customer-centric approach in all our endeavors. Our primary concern is to ensure that our customers receive the very best of our services. I believe that