The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Coronavirus UpdatesThu Jan 14, 2021 7:38 pmThe Invisible
Browns Investments updateWed Jan 13, 2021 7:00 pmJana1
ACL CablesWed Dec 30, 2020 7:22 pmsubash
Merry Christmas to AllTue Dec 29, 2020 4:53 pmchutiputha
Trading Journal Sat Dec 12, 2020 11:33 pmxmart
HVA FoodsFri Dec 04, 2020 10:25 amThe Invisible
Tokyo CementMon Nov 23, 2020 9:42 amRajapaksap
Insider Dealings Fri Nov 20, 2020 2:30 ampjrngroup
UML United MotorsTue Nov 10, 2020 8:50 amThe Invisible
ExpolankaMon Nov 09, 2020 8:46 pmsmallville
Plantation Sector UpdatesSat Nov 07, 2020 8:15 amRajapaksap
HAYC - HaycarbFri Nov 06, 2020 12:11 pmsubash
LWL.N0000 (Lanka Walltiles PLC)Fri Oct 16, 2020 12:50 amsubash
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
The Invisible
The Invisible
Posts : 3041
Join date : 2016-11-28
Age : 41

Sri Lanka's TAFL says exports of parent chicks up, weak domestic demand Empty Sri Lanka's TAFL says exports of parent chicks up, weak domestic demand

on Thu Apr 19, 2018 6:09 am
Message reputation : 100% (1 vote)
ECONOMYNEXT - Sri Lanka's Three Acre Farms, a breeder farm and poultry processing firm said exports of parent stocks rose in 2017, while domestic demand fell as inflation and taxes rose after a currency collapse killing demand for eggs and meat amid a drought.

Sri Lanka being a country without avian flu had helped exports of parent stock chicks, the firm said. Its breeder farms unit had earned revenues of 1.84 billion rupees.

"…[G]rowth was upheld by exports of broiler Parent Stock Day Old Chicks (PS DOCs) to regional countries, which increased by a commendable 28 percent over exports in 2016, but a further increase in revenue was forestalled by a lower demand for layer DOCs due to an unstable egg market," the firm told shareholders.

"However, the Group maintained its revenue from Broiler Day Old Chicks (DOC) despite the glut in the chicken market by ensuring supplies of quality DOC and trust and confidence of our brand."

The company said a drought and floods had also affected. Meanwhile the currency had also depreciated. Higher inflation and a hike in sales taxes was also negative.

Sri Lanka's rupee collapsed from 131 to 150 levels from late 2015 to 2016 and continued to be pushed down by the central bank as it was targeting a real effective exchange rate index.

A currency collapse and the inflation that comes in its wake kills disposable incomes of people, and recouping of forex reserves after slowing credit also hits demand.

However poultry firms get demand support from the tourism sector.

TAFL said in 2017 it earned revenues of 2,401 rupees down 6 percent from 2,543 million a year earlier. Profits fell to 656 million from 814 million rupees.

After the 2011/2012 balance payments crisis and currency collapse, Three Acre Farms killed day old chicks as demand suddenly fell. Profits shrank to 36 million rupees from 170 million. (Colombo/Mar19/2018)
Back to top
Permissions in this forum:
You cannot reply to topics in this forum