Lanka Sugar has recorded a landmark turnover of Rs.14,000 million posting an all-time record profit of Rs. 1.6 billion for 2021.
This record-breaking performance was posted in the backdrop where the company recorded a loss of Rs. 1.2 billion two years ago.
Chairman of Lanka Sugar Janaka Nimalachandra said that the company which is owned and operated by Sevanagala Sugar Factory recorded a profit of Rs. 1,200 million.
He further said that meanwhile, its other factory Pelwatte Sugar Factory posted a profit of Rs. 450 million for last year.
Stating that the company could have touched the Rs. 3.5 billion profit margin, he said it may have been recorded if the company had not initiated several other projects which had affected the profits.
The Government took over both Pelwatta and Sevanagala factories in 2011 after nearly a decade under private ownership.(NewsWire)
