Browns re-engineers for growth with Rs. 433m profit
Brown and Company PLC recorded a turnover of Rs. 5.79 Billon, which
is an increase of Rs. 711 million.
This is a 14% increase compared to the previous year.
Group profit for the year stood at Rs. 433 million.
Chairperson of Browns Rohini Nanayakkara
Chairperson of Brown and Company PLC, Rohini Nanayakkara said,
“Despite the several challenges, Browns aggressively pursued a re-organisation
of its business activities and a strategic expansion of its products and
services, to fall in line with its new vision of being a leading Sri
Lankan conglomerate, excelling through sunshine industries both locally
and regionally, over the next five years.”
The 116th Annual General Meeting of Brown & Company PLC was held on
at the Brown and Company premises yesterday.
CEO/Managing Director of Brown and Company PLC Murali Prakash said,
“Despite many challenges during the period under review, the
organisation had the ability to withstand the negative pressures due to
its diversified trading operations.
It gives me great pleasure as the CEO of a marketing organisation to
have a positive marketing review particularly during a difficult period.
All our main business areas namely, Agriculture, General Trading,
Automotive Batteries, Business Solutions and Power systems have
increased their market share overall. Furthermore, we are the market
leaders in most of the above segments,” he said.
Prakash also said the company revived its Plantation Sector through
the establishment of its Plantations Support Services division, which
has shown great potential during the last eight months.
The company continues to invest in identified strategic areas, both
to stay in growth industries and also to consolidate on the existing
The investment in ‘Gal-oya Plantations’ along with Lanka Orix Leasing
Company was one strategic move where results would bring in greater
value to all stakeholders.
The Board of Directors of the company decided to recommend to the
shareholders that the liquidity and marketability of the ordinary shares
in the company be increased by a subdivision of the shares in the
company and by the issue of new shares by capitalising the Revaluation
of Property, Plant and Equipment Reserves of the company.
After the subdivision there will be 23,625,000 ordinary shares. Each
ordinary share would trade at Rs. 42/- per share.