Cargills among ‘Most Admired Companies of Sri Lanka’
View(s):Cargills has been selected as one of the Top 10 Most Admired Companies of Sri Lanka by CIMA and ICCSL for the second consecutive year.
“This recognition is a testament to the resilience of the Cargills business model in the face of the pandemic, as we continued to grow by placing the needs of the community first. Our philosophy has always been based on the belief that by focusing on community development, the balance sheet looks after itself,” the company said in a media release.
As an essential service provider and a leading food company, Cargills continues to meet the needs of the consumers during the pandemic.
“Our reach and impact went beyond serving our consumers. At a time when many farmers across the country were left without a marketplace, we provided a guaranteed market for thousands of farmers and supported their livelihoods. At the same time, we ensured that not a single ounce of milk went to waste as we increased our fresh milk collection rate to 180,000 litres per day. During the 2020/21 Financial Year alone, Cargills generated direct income over Rs. 9 billion to the dairy and agriculture farming community in Sri Lanka,” it said.
Realising the challenges faced by small entrepreneurs in the aftermath of the first lockdown last year, Cargills launched an initiative called ‘Village to Home’ in September 2020, with a vision to provide local entrepreneurs a platform to engage with a larger market. In addition to supporting them with packaging, marketing, and quality assurance, the Cargills Bank provides low-cost financing to help increase their capacity.
Cargills says by sourcing most of its raw materials locally and producing value-added consumer foods that compete with global brands, the company plays an important role in saving foreign exchange for the country. Its food brands have become leading national brands due to the focus on quality and innovation.
“In spite of the challenging operating environment that prevailed during the last 18 months, Cargills continued to make investments across all business verticals and across the country. In total, the Cargills Group made Rs. 6.4 billion in capital investments during the 2020/21 Financial Year,” the release said.