Malwatte records best-ever profits among plantations

Malwatte Valley Plantations PLC has reported a record post-tax profit of Rs 542 million for the third quarter to September 20, the company said.

It said both tea and rubber sectors have contributed significantly towards this achievement.

The company said its net profit increase of 46% and 60% in shareholder funds shows that these would be the best results amongst plantation companies. Costs were controlled despite rising costs of inputs largely because fertilizer alone was over Rs 200 million.