Business
Ex-Pack unpacks good 1st half
Ex-Pack Corrugated Cartons Limited, one of Sri Lanka’s leading manufacturers of corrugated cartons, has announced an excellent performance during the 1st half of FY2021/22, ending 30th September 2021. The Ex-Pack group has achieved a top line revenue of LKR 3.465 billion, against 2.065 billion during the same period in the previous year, recording a 59% increase, YOY. This was achieved amidst a subdued environment for manufacturing during April and May. Company turnover grew to LKR 2.319 billion, against LKR 1.460 billion the previous year. In terms of manufacturing volumes, Ex-Pack has achieved YoY growth of 17.4% during the 1st half, which is 7.7% above forecasts. The Company’s subsidiary, Neptune Papers (Private) Limited also posted volume growth of 13% for the same period under review.
Based on the 1st half results, Ex-Pack is on track to exceed its forecasted revenue of LKR 5.865 billion for the year. Given that the corrugated carton industry usually witnesses seasonal high demand during the 2nd half of the year, the Company is confident that it will beat all financial forecasts this financial year. During the 1st half of the year, PAT stood at LKR 200 million, against just 45 million during the same period in the previous year, during which performance was heavily impacted by the global pandemic. Earnings Per Share (EPS) for the 1st half stood at LKR 0.80.
Discussing Ex-Pack’s solid financials and sought-after IPO, Zulficar Ghouse, Managing Director said, “The numbers we are seeing are very encouraging. We have successfully managed to navigate one of the most turbulent times in global history, while still posting solid gains and delivering exceptional value to our shareholders. We take this opportunity to renew our resolve to maintain our position as one of Sri Lanka’s leading end-to-end corrugated cartons and packaging solutions providers.”
Ex-Pack Group Chairman, Sattar Kassim further added, “We are optimistic about the future, and look forward to expanding our production capacity through our soon to be commissioned 3-billion-rupee manufacturing plant, which will up our monthly capacity from 2,750 metric tons to 4,000 metric tons by 2025. We also take this opportunity to thank all those who subscribed to our IPO, and announce that trading of Ex-Pack shares will commence on the 10th of November 2021 under the ticker symbol, PACK, on the Colombo Stock Exchange.”
Ex-Pack’s product portfolio includes regular slotted cartons, die-cut cartons, laminated cartons and a host of specialized products developed using recycled material. The Company has designed and engineered many innovative, world class products, including lightweight cartons for fresh fish, and garment on hanger cartons, for high-quality apparel to be shipped upright, hung on clothes hangers. Ex-Pack also worked with the Department of Elections to transform ballot boxes in Sri Lanka, crafting them out of corrugated cartons for the first time ever, enhancing security and mobility, during the 2020 General Election. The Company serves top corporate customers and brands, worldwide, across a range of industries including FMCG, consumer durables, apparel, tea and fisheries.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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