CT Holdings invests Rs. 930 m to up stake in Cargills to over 71%

Tuesday, 20 July 2021 02:01 - - {{hitsCtrl.values.hits}}

Longstanding shareholder Ruffer fund exits from 1.4% stake

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.

Colombo stock market returns to past glory as investors get bullish

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.