Kelani Cables gets Australian export order
View(s):By Duruthu Edirimuni Chandrasekera
Kelani Cables PLC has got a large export order to manufacture cables to Australia and is looking to capture more export markets, according to officials.
“In addition to our existing export markets in the Maldives, India and Dubai during , this year we entered the lucrative Australian household wire market,” Mahinda Saranapala, CEO Kelani Cables told the Business Times. These cables are manufactured as per the Australian Standard (AS/NZ), he said.
He said that Kelani Cables was able to send a few trial orders to South Africa during the year and that the company made a breakthrough in Bangladesh. “We want to firm up the Bangladesh market more this year,” he added. The company has also introduced some new products in a bid to expand its portfolio, he said.
“To expand our product portfolio, we introduced two new products to the local market, iron cables for domestic applications, and for the apparel industry ,trailer cables for the South African market, jumper cables to be used to jump start automatic vehicles,” he said.
The company posted a 123 per cent increase in its bottom line during 2011/2012 financial year at Rs 295 million from its Rs 132 million the year before. “During the year we faced volatility in copper prices in international markets and operational challenges in the domestic market that had an overall difficult effect on our bottom line, such as the escalation of fuel prices, foreign exchange fluctuations, and the increase in electricity prices and also increased competition,” Mr. Saranapala added. He said that domestic cable market also saw sharp competition with new competitors introducing lower cost and substandard products to the market.
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