As it prepares to announce an initial public offering (IPO) and listing on the Colombo Stock Exchange (CSE) in a bid to raise capital, JAT Holdings noted that these funds would be used to commission manufacturing plants in Bangladesh and Africa.
“Funds will be used to drive development activities such as the establishment of a new state-of-the-art R&D facility and the commissioning of a new manufacturing plant in Bangladesh, for which negotiations have been completed and initial implementation is underway. Discussions are also ongoing to commission a plant in Africa. Together, these new facilities will further consolidate the company’s position in these regional markets, while also contributing towards revenue and margin growth,” the company noted in a press release announcing its financial performance for the financial year ended on 31 March 2021.
JAT Holdings, ended FY 2020/21 posting a healthy Rs. 621 million profit after tax, completely reconciling losses incurred earlier in the year, driving gross profit margins from 27.6% to 30.7% YoY, while maintaining the net profit margin at 11.2%.
Discussing the company’s remarkable performance across the most challenging of financial years, JAT Holdings CEO Nishal Ferdinando said: “Being the leader in wood coatings, possessing a strong product portfolio in paints, brushes, ergonomic office furniture, decking, ceilings, bespoke kitchens, etc. in addition to having significant revenue streams from Bangladesh and other South Asian countries through multiple sales channels, enabled JAT to successfully mitigate the effects of the pandemic and remain resilient through 2020/21.
FY 2020/21 saw the company enjoying its highest-ever recorded YoY revenue growth, 29%, in the Sri Lankan market for wood coatings, paints, and brushes. This is significant as it was achieved despite operating through more than two months of lockdowns. The company also enjoyed positive cash flows for over seven months of the year at a stretch, despite challenges, ending the year net positive with Rs. 490 million as at 31 March 2021. The strength of the company’s cash position is further attested to by a net debt (cash)/equity ratio of negative 0.03. Current and liquidity ratios increased to 3.26 and 2.29, respectively, against 2.61 and 1.76 from the year prior, while gearing saw an easing to 9.07% over the period.
Sri Lanka Tourism introduces e-learning platform for all SLTDA registered tourist guides.
As an initiative to uplift the reviving tourism industry in the country, Sri Lanka Tourism Development Authority in collaboration with Sri Lanka Institute of Tourism & Hotel Management (SLITHM) have introduced the continuous professional development (CPD) e-learning platform to all registered guides to enhance their knowledge and skills.
The launch of the continuous professional development (CPD) e-learning platform took place this week under the patronage of Minister of Tourism Prasanna Ranatunga, Secretary of the Ministry S. Hettiarachchi and Sri Lanka Tourism Chairperson Kimarli Fernando.
“Tourist guides play an important role in our tourism sector as they spend a lot of time with visitors from arrival to departure. It is important that our guides stay updated on their professional/technical knowledge and I hope this e-learning platform by Sri Lanka Tourism will help them enhance their knowledge and skills” Sri Lanka Tourism Chairperson Kimarli Fernando shared while the Minister congratulated all the officials who were involved in bringing this initiative to reality.
Knowledge improvement, obtaining expertise knowledge from veterans, develop active participation with guests, improve the link between Tourism institutions & guides are some key objectives of this e-learning platform.
If you are a registered guide with SLTDA, you can now sign up on https://sltda.gov.lk/e-learning/login and avail of the online courses.
A certificate of completion will be given at the end of the course from SLTDA and SLITHM.
Impact of Climate Change on marine and fresh water resources and combating water pollution
Trilateral virtual dialogue among Pathfinder Foundation, Russian International Affairs Council and Asian Confluence
The Pathfinder Foundation (PF) has initiated a trilateral dialogue involving Sri Lanka, India and the Russian Federation to discuss issues of contemporary relevance. The first trilateral dialogue will be held to day 4:30 PM SLST on the “Impact of Climate Change on Marine and Fresh Water Resources and Combating Water Pollution: Best Practices from Russia, Sri Lanka and India”.
For this dialogue, Pathfinder Foundation will be partnering with Russian International Affairs Council and Asian Confluence.
The distinguished panellists for the webinar are, Ambassador GlebIvashentsov, Vice President, Russian International Affairs Council, Ambassador (Retd.) Bernard Goonetilleke, Chairman Pathfinder Foundation, Ambassador. IFS(Retd.) Rajiv Kumar Bhatia, Member Governing Council, The Asian Confluence and Distinguished Fellow, Gateway House,Dr. Anastasia Likhacheva, Director, Centre for Comprehensive European and International Studies, Higher Schoolof Economics, Dr. B. V. R. Punyawardena, Chairman, National Steering Committee on Climate Change Adaptation, Governmentof Sri Lanka, Dr. Fraddry D’Souza, Area ConvenerandFellow, The Coastal Ecology & Marine Resources Centre, TERI Goa,India , Dr. Konstantin Zgurovsky, Senior Advisor, Marine Programme, WWF Russia, Mr. Sarath Premalal, Retired Director General of Meteorology of Sri Lanka and Prof. Vinay Kumar Dadhwal, Director, Indian Institute of Space Science and Technology Professor Indira Gandhi Chair, National Institute of Advanced Studies, India
Those who are interested in participating may kindly register at the following link; https://bit.ly/3AZbYAN Program details are available at https://bit.ly/3zdUkY3 . The event will also be live streamed on the PF Facebook Page https://www.facebook.com/pathfinderfoundation/
Doc990 and MyDoctor partner SLVA to extend accessible veterinary services islandwide
Sri Lanka’s premier digital health solutions service providers, Doc990 and MyDoctor are now enabling customers to access online veterinary services island-wide in partnership with the Sri Lanka Veterinary Association.
The national professional body serving and representing the interests of the veterinary profession in Sri Lanka, the Sri Lanka Veterinary Association (SLVA), is dedicated to providing continued excellence within the profession of animal medicine and the provision of outstanding care for all animals while also actively creating public awareness of the contribution of veterinarians island-wide.
This collaborative effort with Doc990 and MyDoctor will bring pet owners, owners of farm animals and good Samaritans the ability to access remote video consultations with leading, specialist veterinarians of their choosing, without the hassle of physically entering hospital waiting rooms, transporting animals etc. This timely, contactless service will not only be convenient but also a relief to pet owners and caretakers in the backdrop of travel restrictions as a result of the ongoing global pandemic.
Customers can engage in video consultations with their chosen vet by downloading the Doc990 mobile app from the Google Play Store or the Apple Store. Through its widening network of hospitals and medical services, Doc990 strives to make health care accessible and convenient for all Sri Lankans.
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