Lanka Walltiles powered through the challenges of a global pandemic to deliver a stellar performance recording impressive earnings growth.
Recording the highest profit in the history of the Group
Lanka Wall tiles steered by the brilliant leadership of the renowned business magnate Dhammika Perera, powered through to deliver a stellar performance recording impressive earnings growth of 868% to record the highest profit in the history of the Group – Rs.4,013 million as profit after tax for FY 2020/21.
Timely investments in new technology, developing market infrastructure, and capacity building of its people aligned with changes in the operating environment to provide conducive conditions for growth. The agile strategy enabled the Group to seize unexpected opportunities and drive growth in this capital-intensive sector, leveraging its contemporary designs and formats portfolio.
The top-line growth of 48%, driven mainly through the Tiles sector, enabled the Group to record revenue of Rs.29,423 million, which is the highest revenue recorded in the history of the Group. Capacity utilization, cost efficiencies, and lower finance costs underpinned the Group’s phenomenal growth of earnings. Every sector performed better than the previous year, which is attributable to the detailed refinement of plans and performance oversight throughout one of the most challenging years in recent times.