Raigam Wayamba Salterns PLC reports good year in 2022/23
View(s):Raigam Wayamba Salterns PLC (RWS), the one and only salt manufacturing company listed in the Colombo Stock Exchange (CSE), has reported a good year in 2022/23 with a sharp post-tax profit of Rs. 433 million, up by 101 per cent from Rs.216 million in the previous financial year.
The group result is its ever highest performance with a remarkable growth compared to the preceding year during the financial year 2022/2023. Revenue was Rs.2.1 billion vs Rs.1.1 billion in 2021/22, an 85 per cent increase year-on-year, the company said in a media release.
RWS was established in 2005 as a subsidiary of the Raigam Group of Companies to make use of the opportunities available in the salt market in Sri Lanka, mainly the value added salt including table salt (powder) which was dominated by a few Indian Salt suppliers, despite the fact that Sri Lanka is surrounded by sea and plenty of favourable conditions required for the salt industry were existing.
At the close of financial year 2022/2023, the real value of a share (net assets per share) remained at Rs. 7.88 as compared to the market value of Rs.6.90
Directors of the company are Dr. Ravi Liyanage (Chairman / Executive Director), Kishan Theadore (Managing Director), Ganaka Amarasinghe, Senior Prof. Sampath Amarathunga, Sarath Keerthirathne, Sunil Samaraweera, and T. Dharmarajah.
The group comprises the parent company, Raigam Wayamba Salterns PLC and two fully owned subsidiary companies, namely, Southern Salt Company (Pvt) Ltd (SSC) and Raigam Wayamba Cereals (Pvt) Ltd (RWC).
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