Daily Mirror (Sri Lanka)

Bairaha Farms...

- Business

The fi­nan­cial per­for­mance of the group took a hit due to a num­ber of fac­tors, and the im­po­si­tion of cur­fews to con­tain the out­break was a key con­trib­u­tor.

Over-pro­duc­tion of chicken and broiler day-old chicks and in­crease in feed prices due to higher raw ma­te­rial prices, were the other two fac­tors that dis­rupted sales and con­trib­uted to the group’s loss of Rs.196 mil­lion for the fi­nan­cial year end­ing March 31, 2020.

In the cor­re­spond­ing pe­riod Bairaha Farms PLC recorded a profit of Rs.413 mil­lion.

Given the cur­rent po­si­tion of the com­pany, Prof. Furkan said that ex­pan­sion projects, such as ac­qui­si­tion of land for in­creas­ing farm ca­pac­ity will be put on hold while the present ac­tiv­i­ties are con­sol­i­dated.

How­ever, he shared that the com­pany will con­tinue to pur­sue av­enues for im­prov­ing ef­fi­ciency and cost sav­ing, when in­tro­duc­ing new prod­ucts.

“We will also con­tinue to ex­pand our sup­port­ing ser­vices to the in­dus­try, as far as cir­cum­stances per­mit,” he added.

From an in­dus­try view­point, Prof. Furkan said gov­ern­ment sup­port across di­verse ar­eas is re­quired to over­come the ob­sta­cles faced by the sec­tor.

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