Dear Shareholders, It is with great pleasure that I welcome you to the 13th Annual General Meeting of Raigam Wayamba Salterns PLC and present you the annual report together with audited financial statements for the financial year 2017/2018. The main challenge before the company in the financial year under review was to sustain the remarkable financial results recorded in the preceding year, 2016/2017. Compared to the previous year, the environmental and market factors affecting the industry were not favourable. However your company reached the expectations with a moderate growth in terms of revenue and profit, as we remained focused on strategy to drive short term performances, while ensuring that the right decisions were made to sustain long term growth. As a result of the increased harvest of industrial salt in Sri Lanka during the period under review, once again the consumer market turned in to a sharp price competition bringing down margins. However your
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Raigam Wayamba Salterns PLC | ANNUAL REPORT 2017 - 2018
Company was able to face the situation in a stable manner as the company had heavily emphasized on capitalizing its’ brands as a long-term strategy. The capacity utilization of the two production facilities of the group, at Palavi in Puttalam District and Bata-atha in Hambantota District were at satisfactory levels. In keeping with your company’s vision “to be the convenient partner enhancing the taste and health needs of the nation” continues to guide us in reinforcing our efforts to contribute to fulfillment of salt and iodine needs of the nation, ensuring highest standards in nutrition and health factors. Consequently, the company continued its focused efforts to empower the consumers and help them make informed good habits in their diets and to improve the awareness of essential good practices together with compliances relevant to the industry among our stakeholders in supply and distribution chains. Being the trend setter in the value added salt market in Sri Lanka, our research and development efforts continued throughout the year in order to enhance
