Business
C. W. Mackie posts best results in a century
C. W. Mackie PLC, one of the country’s leading and oldest diversified conglomerates, published its integrated annual report for the 22/23 financial year, highlighting the Company’s resilience during a period defined by unprecedented challenges to register its best financial results in over a century of operation.
“In what has become a benchmark year of financial and non-financial performance for C. W. Mackie PLC, we continued to deliver on our commitments to the shareholders and stakeholders of the Company, exceeding all expectations,” stated Mr. Hemaka Amarasuriya, newly appointed Chairman and Chief Executive Officer of C. W. Mackie PLC, during the reporting period.
“We are excited to share our consolidated financial statements alongside details of strategic approach followed by the Group to sustain and strengthen our market leadership position, and record an exceptional performance in a susceptible economic environment.”
C. W. Mackie PLC Group recorded a remarkable year with a 46% year-on-year increase in revenue to reach Rs. 19.2 billion, and the resulting doubling of gross profit from Rs. 2.0 billion during the preceding financial year to Rs. 3.9 billion during the reporting period, an outstanding growth of 97%, a news release recording the achievement said.
“Despite of global recession C. W. Mackie PLC Group successfully supplied overseas orders and strengthened overseas customer relationships. The Group focused on capacity expansion of manufacturing facilities, investing in new machinery specially for export-based manufacturing, reconditioning old machinery and revisiting production lines, and investing in human capital to focus more on developing new products and marketing strategies. LKR depreciation was favourable in terms of revenue and margin in export business,” the release said.
The integrated annual report pays homage to the company’s over 120-year history and sheds light on its far-sighted strategic investments under the theme ‘An Inspiring History.. An Aspiring Future’. The company has prudently invested across a multitude of sectors, with the annual report presenting a sectoral-wise breakdown for the reporting period that saw its FMCG sector – despite compounding market challenges and economic contraction – overtake the Commodity sector in terms of revenue.
The annual report will be presented by the Board of Directors of the Company during its Annual General Meeting scheduled to be held on July 27 and also available for download in print PDF on C. W. Mackie PLC’s revamped website.
About C. W. Mackie PLC
Anchored to a history of more than 120 years, C.W. Mackie PLC is a company listed in the Colombo Stock Exchange (CSE) that specialises in manufacturing, exporting, and importing a wide range of Food and Beverages with the purpose of elevating the quality of life of its stakeholders. The Scan Products Division with its hybrid vertical marketing and distribution channels, is the FMCG arm and the largest growing cluster of C. W. Mackie PLC’s diversified business, and continues to service growing consumer markets through traditional trade, modern trade, HORECA (Hotel, Restaurant and Cafe), and institutional distribution.
Export of crepe rubber, plantation sole crepe & industrial crepe rubber, desiccated coconut & spices, Import & resale of light industrial products, is part of its business.
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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