One of the leading cement manufacturing, importing and distribution companies in Sri Lanka - Tokyo Cement Company (Lanka) Ltd has recorded a consolidated turnover of Rs 6bn for the year 2004/05, an appreciation of 12 per cent over the previous year.
In the Annual Report 2004/05 of Tokyo Cement, its Chairman, Deshamanya A Y S Gnanaam, said that however the consolidated net profit after tax and minority interest amounted to Rs322m, marginally down from Rs .337 million in 2003/04.
Ensuring consistent returns to its shareholders the Board of Directors has recommended a tax-free first and final dividend of 40 percent for the financial year 2004/05.
He said amidst an unfavorable external environment, Tokyo Cement sales improved in tandem in the cement market though profitability suffered due to certain operational setbacks and delay in adjusting cement prices in relation to escalation of costs. Though high freight rates continued, the Group took efforts to acquire its third vessel and too additional measures to improve cost and energy efficiency.
A new integrated branding strategy was kicked off this year with all major products except Mitsui, coming under the Tokyo Cement branding. As a result of this strategy Atlas was renamed as Tokyo Super while Samudra Cement Company Lanka (Pvt ) Ltd. was christened as Tokyo Cement Colombo Terminal (Pvt) Ltd Gnanam said that they also expanded their ready mix concrete business with the addition of another plant in the Kandy district bringing the total to three.
