State-owned Kalubowitiyana Tea soars to new heights

Tuesday, 23 August 2022 02:17 - - {{hitsCtrl.values.hits}}

Achieves record profits; pays higher prices to tea smallholders

Steeped in the concerns of recent operational challenges, Kalubowitiyana Tea Factory Ltd. (KTFL) has steered masterfully through the volatility to achieve the remarkable feat of closing its first quarter of 2022 with a revenue of Rs. 583 million and a net profit of Rs. 222 million.

Chairman Aminda Rodrigo confirmed that the company has recorded the all-time highest price for low grown CTC tea at more than a staggering 50% of the 12 auctions held so far, peaking at a selling price of Rs. 3,250 in the current financial year, which is a testament to the hard work of the management and employees operating KTFL, the flagship factory of the organisation, and the premium quality of the tea, proudly produced in Sri Lanka. Furthermore, in July of 2022, the company was proud to offer the tea small holders that supply the award winning grades of low grown CTC tea, with a record breaking compensation of Rs. 434.82 per kilo.

Plantation Minister Dr. Ramesh Pathirana stated that profits are often an indication of strong leadership and Kalubowitiyana Tea has the privilege of operating under a transparent process of governing which aims to build a legacy appointed through ethical business practices that encourage growth and sustained stability. As a representative of a proud tea nation, Kalubowitiyana Tea is committed to maintaining the gold standards of their business to honour the symbol of quality that is pure Ceylon Tea.

Incorporated on 30 September in 1992 as a public company fully owned by the Government of Sri Lanka, Kalubowitiyana Tea Factory Ltd. (KTFL) operates four tea factories which directly contribute to the national grid. The main factory located in Kalubowitiyana produces the record setting low grown CTC tea while the other three factories produce Orthodox tea. The four factories located in Kalubowitiyana and Derangala in the Matara District, Hiniduma Hills in the Galle District and Menikdiwela in the Kandy District are committed to enriching the lives of over 4,000 tea smallholders, while supporting the livelihoods of over 350 employees. This economic benefit and stability that KTFL provides to 10,000+ people, is no small feat given the severe economic difficulties facing the country today.