Raigam Wayamba Salterns Group turnover tops 1 bn

Raigam Wayamba Salterns PLC saw its group turnover increase from Rs. 959.6 million to Rs. 1,147 million recording a growth rate of 19.5% year on year.Despite the fact that the financial year 2021/2022 was filled with many challenges, as a result of prudent management practices implemented and followed, the Raigam Wayamba Group was capable of reporting its ever-highest growth in 2021/2022,” said Chairman, Raigam Group, Dr. Ravi Liyanage.

The Group’s profit after tax grew from Rs. 149.7 million to Rs. 215.6 million at an annual growth rate of 44%. As a result of these successful financial performances the earning per share for the year stood at Rs. 0.76 compared to Rs. 0.53 in the corresponding year.These progressive financial performances were timely published by the company on quarterly basis for the use of the investors of the share market and they had reacted positively demanding the shares of the company at satisfactorily higher levels.

Considering the satisfactory financial performance and the expectations of shareholders the Board of Directors of the company has proposed a dividend of Rs. 0.15 per share for the financial year 2021/2022.The Raigam Wayamba Group launched its agriculture based new venture, Raigam Wayamba Cereals (Pvt) Ltd (RWC) in the financial year 2021/2022, which will engage in promoting cultivation of selected agricultural crops and value addition through agro-processing.Under this project the RWC has established a state of the art warehouse complex and an agro-processing centre at Wellawa in the Kurunegala District. RWC also announced the launch of “Nenaposha”, manufactured according to a well-balanced formula using Corn, SoyBean, Green Gram and Rice; all are sourced from local farmlands.