Dilmah listed under ‘Forbes Asia’s Best Under A Billion 2020’

8 December 2020 03:32 am

• Only Lankan entity to be recognised under the category in 2020

Sri Lanka’s Dilmah Ceylon Tea came under fresh spotlight recently for being recognised by Forbes under ‘Asia’s Best Under A Billion 2020’, becoming the only company in the country to be listed in the category.  Highlighting 200 Asia-Pacific public companies, with less than US $ 1 billion in revenue and consistent top and bottom line growth, Dilmah Ceylon Tea was bestowed the recognition for its impressive financial performance. As of July 7, 2020, the Sri Lankan entity recorded US $ 65 million sales, a net income of US $ 10 million and achieved a market value of US $ 70 million. Forbes stated that the companies recognised under the Asia’s Best Under A Billion 2020 list have track records of exceptional corporate performance, with one COVID-19 caveat. The list is based on full-year data, as of July 7 and does not fully reflect the impact from the pandemic-led downturn. Founded by Merrill J. Fernando, Dilmah Ceylon Tea PLC has been in existence since 1981. The company, that has strong brand presence across a number of international markets, is engaged in manufacturing, export and marketing of tea bags and packets under the Dilmah brand. The company offers silver jubilee gourmet, boutique, vivid, t-series designer gourmet, premium Ceylon single origin, single region, natural green and organic tea. It operates through the segments: tea bags, tea packets and others.