Ceylon Grain Elevators score marginal profits

August 14, 2019

Sri Lanka’s Ceylon Grain Elevators reported an 8.2% increase in its June 2019 quarter profits to USD 1.06 million. Profits were mainly coming from export of parent stock DOCs. Local sales of processed meat and broiler chicks have declined due to the Easter Sunday attacks in April. Chief Executive Cheng Chih Kwong, Primus told shareholders in an earnings release statement that “cost of production grew due to short supply of corn, which narrowed margins”.