18. Vallibel One

VIEWS (1127)

Vallibel One is at number 18 of the Business Today TOP 30, 2016-2017. Group revenue increased to 52.9 billion rupees and assets increased by 16 per cent to reach 175.6 billion rupees. However, PAT declined to 4.3 billion rupees from the previous year. The Group was driven by the strong performance of subsidiary companies.

Royal Ceramics invested over 1.2 billion rupees into its factories namely in Horana, Eheliyagoda and Homagama to expand tile and sanitary ware capacities and other initiatives were taken to consolidate the market share of Rocell branded products. Royal Ceramics recorded a growth of seven per cent in turnover and 14 per cent in total assets during the last year. Rocell and Lanka Tiles continued their upward trajectory in performance.

Swisstek Aluminium showed a 30 per cent growth; Uni-Dil Packaging and Horana Plantations, all of which are subsidiaries of Royal Ceramics, contributed to the Group's performance. In addition, Horana Plantations was able to reduce its operational losses from 73 million rupees to 30 million rupees.

The emphasis on creating value continued to be in focus for Delmege and its cluster companies, with strategic interventions made in the previous year resulting in steady growth during the financial year.

With Vallibel One entering the luxury hotel segment, the construction of Grand Beach Hotel in Negombo is progressing steadily. Fortress Resort and Spa is also showing good results.

Vallibel One being the holding company of business that are performing strongly in their respective sectors. With Chairman, Dhammika Perera at the helm prudent yet aggressive approaches are taken to ensure that all perform well regardless of the changing environment. It would be appropriate for some of the companies to begin venturing out of Sri Lanka, thereby expanding their markets as well as bringing greater revenue to the country.