Newly listed Melstacorp wants to blend revenue streams

cse-melstacorp-market-opening

Dec 30, 2016 (LBO) – Sri Lanka’s newly listed Melstacorp is to blend the revenue streams the group receives through its different sources to ensure an appropriate blend, Managing Director Amitha Gooneratne said.

He emphasized that the company wants to maintain its diversified interests and income generation going forward.

“The greatest challenge of Melstacorp would be to blend the fusion of the income the group receives through its different sources,” Gooneratne said.

Gooneratne was speaking at the commencement of share trading of Melstacorp at the Colombo Stock Exchange today morning.

“Our main objective is to ensure that the income from the non-alcoholic beverage sector becomes almost equal, which would ensure an appropriate blend of revenue streams.”

Directors Royle Jansz, Jagath Kahanda, Vyjayanthimala Senaratne, Corporate Consultant Damien Fernando and the senior management of Melstacorp were present at the ceremony.

The listing of Melstacorp by way of an introduction follows a decision by the shareholders of the Distilleries Company of Sri Lanka to establish Melstacorp as the holding company of the group, marking a modification in the ownership structure.

The shares, which were listed by introduction on the Main Board of the CSE have been classified under the ‘Diversified Holdings’ sector.

Melstacorp Limited is a diversified conglomerate with its business interest spanning beverage, plantations, telecommunication, financial services and other diversified sectors.

The Distilleries Company, Balangoda Plantations and Browns Beach Hotels which are listed on the CSE are subsidiaries of the Melstacorp Group.

CSE listed conglomerate Aitken Spence and Madulsima Plantations are associate companies of Melstacorp.