Saturday, August 1 2026
Saturday, August 1 2026
After tax profits rose 28 percent to 840 million rupees in the June quarter.
Ceylon Grain Elevators group revenues in the June 2026 quarter rose 13 percent to 7.8 billion rupees, cost of sales rose at a slower 7 percent to 6.2 billion rupees, allowing gross profits to rise 47 percent to 1.6 billion rupees.
There was increased demand for broiler day old chicks which helped revenues, but feed demand fell with farmers moving to self-mixed feed with higher availability of local maize.
"The increase in revenue was primarily driven by sustained demand for processed chicken and improved demand for Broiler Day-Old Chicks (DOCs),"
"The Group reported improved profitability during the quarter under review, primarily attributed to upward revision of average selling prices in response to cost escalations," Chief Executive, Cheng Chih Kwong told shareholders.
"However, profit margins were challenged by prevailing geopolitical uncertainties, as a result of higher costs of imported raw materials, freight, inward logistics and energy.
"Despite these challenges, the Group successfully mitigated the cost pressures through various process optimization initiatives, resulting in an overall improvement in profitability."
The Sri Lanka rupee collapsed in the second quarter of 2026 as the central bank denied convertibility to rupees it created by purchasing 600 million dollars in the first quarter and also money printed through swaps and profit transfers.
In June the central bank reached its controversial 7 percent inflation target. Colombo/July31/2026)
| US Dollar | 340.98 | Sell - |
| Euro | 391.44 | Sell - |
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| Sterling | 458.31 | Sell - |
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| Gold | $4035 | - - |
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