Sri Lanka Tokyo Cement September net profit falls

Sri Lanka Tokyo Cement September net profit falls
Published: 19 November 2008

Sri Lanka’s Tokyo Cement group said September quarter net profit fell 43 per cent to INR158m from a year ago, according to a stock exchange filing.

The firm has been grappling with higher raw material, energy and transport costs, which resulted in a dip in profits last year.

But it has said new eco-friendly manufacturing processes and products should help it revive profitability.

Tokyo Cement has commissioned a bio-mass power plant and will soon commission a new vertical roller mill at its cement manufacturing factory in the eastern port of Trincomalee.

The planned 10 MW bio-mass power plant in Trincomalee would meet its entire electricity requirements with the excess power being sold to the national grid.

The company has said this should help it make considerable cost savings and also qualify for carbon credits.