Mar 17, 2010 (LBO) – Sri Lanka’s Finlays Colombo group said it is considering expanding its cold storage business into a network with profitability improving and the unit getting more customers last year.
Use of the Finlays cold store eliminates the need for customers to invest in their own expensive storage facilities.
It also enables them to benefit from the economies of scale of being part of the Swire Group, which has operations in the USA, Australia, Vietnam and China, the company said. The company is part of the Swire group of the UK, a large global cold-storage operator.
Finlays Colombo chairman Kumar Jayasuriya said temperature-controlled logistics was one of its best-performing businesses last year.
“In Temperature-Controlled Logistics, we maintained high levels of occupancy at our cold store and were successful in expanding our customer base,” he told shareholders in the firm’s 2009 annual report.
“We also expanded the range of value-added services we provide.”
The group unit added transport services to its core cold storage activity and also introduced new value-added services like weighing, sorting and MRP (Maximum
Retail Price) price marking.
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