Sri Lankan bootmaker seeks growth outside its military mainstay
02/11/2017
It posted a profit of Rs 210 million ($1.4 million), up from a loss of Rs 307 million the previous year, according to local press.
The company, which was set up by the British government in 1939 to supply boots to the army, is trying to diversify away from military footwear - which makes up 70% of sales - into the retail sector.
“It is mandatory for the company’s survival to increase our retailer and dealer network," said Ceylon Leather CEO SP Ranasinghe.
During the year, around Rs 50 million was spent on updating the effluent treatment plant at the tannery.
Chairman Neville Peiris said: "The new effluent treatment plant is complete and tests are being carried out to ensure the water discharged complied with Central Environment Authority standards.”
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