By Randheer Mallawaarachchi
During a period of complete unpredictability, Raigam Wayamba Salterns PLC has recorded a substantial growth throughout the first two quarters of the financial year 2020/2021.
According to the published interim financial results the group turnover for the first six months of the financial year has increased from Rs. 314 million to Rs. 385 with a growth of 22.6%. This purely represents a sales volume growth due to the stable price levels remained throughout.
The group has earned an after tax profit of Rs. 50 million on that turnover compared to Rs. 38 million earned in the corresponding period of the previous year, increasing the EPS from Rs. 0.14 to Rs. 0.18. This remarkable growth in performance has finally resulted in growth in net assets per share from Rs. 4.63 reported at the end of previous financial year, to Rs. 4.81 giving a clear indication of asset growth and overall stability of the group. While the macroeconomic vulnerabilities affecting m
Raigam Wayamba Salterns PLC started its journey in 2005 as a BOI company engaged in the manufacture, refining, packing and marketing of salt products.
By the time Raigam entered this trade, despite the fact that Sri Lanka was surrounded with sea and blessed with best weather conditions for manufacture of salt, unfortunately the country was depending on imported salt, bleeding its treasured foreign currency and neglecting all potential economic benefits of the industry.
Despite several industry barriers, Raigam’s challenging decision to invest in the industry has brought many advantages to the country at large. Today Raigam Wayamba Salterns PLC is reaping the harvest of its strategic investment, recording substantial growth even in the wake of the sudden unforeseen global challenges that engulfed the world.