Thursday Nov 14, 2024
Thursday Nov 14, 2024
Tuesday, 20 July 2021 02:01 - - {{hitsCtrl.values.hits}}
Controlling shareholder CT Holdings PLC on Friday increased its stake in Cargills (Ceylon) PLC to over 71% from 69.8% previously.
This was following CT buying a 1.4% stake or 3.7 million shares held by LF Ruffer Pacific and Emerging Markets Fund, at Rs. 250 each. Ruffer fund has been a longstanding foreign institutional shareholder. On Friday, the share price of Cargills increased by Rs. 2.75 (1.11%) closing at Rs. 249.75. Yesterday, it closed 50 cents down to Rs. 249.25.
Analysts expects CT Holdings to shed down from the 71.2% stake when it is opportune.
The percentage of shares held by the public and number of public shareholders as of 31 March is 20.53%. (2020 – 20.65%) and 1,951 (2020 – 1,851) respectively.
In FY21, Cargills’ highest price was Rs. 252 and the lowest was Rs. 150 before closing at Rs. 235, up from Rs. 170 a year earlier.
The Cargills Group recorded a turnover of Rs. 112.6 billion in FY21 up 5.2% from the previous year.
Group turnover was driven by healthy growth in the Food Manufacturing sector and a steady performance of the Food Retailing Sector.
Group operating profit increased 3.5% YOY to Rs. 7.3 billion as efficiency improvements and product mix led to margin expansions in both the Food Manufacturing and Restaurant sectors. Group Profit After Tax increased 26.2% during the year to Rs. 3.48 billion.
