Alumex reports record PBT of Rs. 801 million

Friday, 20 May 2016 00:08 - - {{hitsCtrl.values.hits}}

The Alumex Group performance surpassed the targets in the financial year ended 31 March. Revenue was reported at Rs 3.99 billion, a growth of 21%. Profit before tax was Rs. 801 million recording an increase of 31% and profit after tax was reported as Rs. 589 million compared with Rs. 477million in the previous year.

Alumex a subsidiary of Hayleys PLC is the premier manufacturer of aluminium profiles for the construction industry and has been the market leader since its inception. Its products are used for the fabrication of windows, doors and facades in commercial and residential buildings. Alumex has its manufacturing facility in Makola, Kelaniya and has a marketing and distribution network covering Sri Lanka.

The construction industry growth reduced to 4.6% but low interest rates and inflation created an environment for investment in apartments, hotels and residencies continuing the high demand for aluminium profiles. LME aluminium prices dipped mid-year and premiums reduced to compensate for the depreciation of the rupee against the US dollar and this helped the industry maintain a stable pricing structure as stated by Managing Director Rohan Peris.

Chairman Mohan Pandithage stated that the marketing strategy of strengthening residential brand LUMIN with a new Concept Centre in Nawala and widening dealer/distribution centre networks contributed significantly to the performance.

The Board of Directors of Alumex consists of Chairman Mohan Pandithage, Managing Director Rohan Peris, S. C. Ganegoda, D. W. P. N. Dediwela, A. A. Akbarally, R. P. Pathirana, H. H. Abdulhusein, Dr. H. Cabral and S. Munaweera.