Topline growth amidst export growth of 130%

Sri Lanka’s market leader in wood coatings and emerging regional conglomerate, JAT Holdings PLC, reported robust financial performance for Q2 of FY 2023/24, recently. Most notably, the Group recorded its highest-ever Export Turnover at Rs. 1,827 million, against Rs. 795 million in the corresponding period in the year prior, a growth of 130%, driven in part by market expansion.

Alongside this, the Group also recorded a healthy 11% growth in Revenue to Rs. 4,878 million, up from Rs. 4,392 million in the first six months of FY 2023/24, compared to the same period in the year prior. Gross Profits too rose marginally by 2% during the same period to Rs. 1,417 million, from Rs. 1,383 million in the previous year.

Meanwhile, the Group has achieved significant growth through its manufacturing operations in Bangladesh, led by its new plant, which has been supported by value engineering driven by JAT Holdings’ cutting-edge R&D Facility in Sri Lanka. These developments, along with other contributors to business expansion, including exports, have helped to drive significant topline growth for the Group.