Sat, 19 Jun 2021 Today's Paper

Lankem gains full ownership of packaging subsidiary for Rs.320mn

20 April 2017 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

The diversified manufacturing and trading conglomerate, Lankem Ceylon PLC (Lankem), last week gained the full ownership in its subsidiary JF Packaging (Pvt.) Limited for Rs.320 million, a disclosure to the trading floor of the Colombo bourse said.
Lankem acquired the subsidiary’s remaining non-controlling interests by purchasing 27.5 percent of JF Packaging shares from the latter’s former Managing Director Lakshman 
De Fonseka.

Lankem said that the transaction was in normal commercial terms.
JF Packaging was founded in 1987 by De Fonseka’s family and is currently conducting packaging operations based in Kotugoda, employing around 110 individuals.
During the 2016 financial year, the non-controlling interests of JF Packaging had made Rs.16.82 million in net profits, up from a Rs.508,000 net loss year-on-year (YoY). The company posted a total net profit of Rs.61.15 million in 2016 compared to a Rs.1.85 million loss YoY.
Revenue for the year was Rs.1.59 billion, increasing from Rs.246.51 million YoY.
JF Packaging’s total assets at the end of the 2016 financial year stood at Rs.1.45 billion, higher than the Rs.1.37 billion recorded at the start of the financial year, while the total liabilities for the same period increased marginally to Rs.1.16 billion from Rs.1.15 billion. 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment


Statistical blunders expose administrative weaknesses

Information helps save lives and during a pandemic a free-flow of vital, accu

Vavuniya tusker’s demise DID TOO MANY ‘COOKS’ SPOIL JUMBO’S RECOVERY?

On June 11 Sri Lanka lost another one of its magnificent tuskers that succumb

Life and Times of Dynamic “Thamby” Arumugan Thondaman

Thamby”in Tamil means younger brother. It is also used widely as a pet name



See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.