Kelani Cables to forge ahead with expansions into a new country each year
View(s):Kelani Cables PLC, a manufacturer and distributor of power and telecommunication cables and enamelled winding wires, is re-considering entering Australia with their products while also eyeing other countries to expand into, officials said. Earlier plans to venture into Australia didn’t work out, the company said. Last year the company went to Seychelles and this year Kelani Cables plans to start a fully fledged office in Bangladesh, they said. “We want to go into an additional country each year,” an official told the Business Times. He said this is in line with their long term strategy.
The new 277 perches land, adjoining their premises in Kelaniya is being developed to relocate the cutting and rewinding unit, central warehouse, etc and much needed cable drum storage yard, he said. “These initiatives will certainly improve our internal efforts to serve the customer better and reduce costs etc.” The gross profit in the company grew by 18.1 per cent over last year. Profit before tax recorded a growth of 43.3 per cent and the bottom line grew by 51.6 per cent. The company has recorded a sales turnover of Rs.6.2 billion the highest in the history of the company.
“Our Operational and Engineering team completely refurbished a Laying up line to manufacture Aerial Bundled Cables for the CEB. It was a very commendable effort by the Engineering and Technical staff to undertake such a task and they have demonstrated their capabilities and commitment to the company. Since then our capacity to manufacture ABC Cables has increased fourfold,” Chairman of the company Upali Madanayake Chairman has said in his annual statement.