Sri Lanka Agstar Fertilizers buy rice processor

Feb 19, 2013 (LBO) – Sri Lanka’s Agstar Fertilizers Plc said it had bought control of a rice processing and distribution company for 41.7 million rupees. The firm said in a stock exchange filing that it had bought 51 percent of Mahaweli Rice Processing Industries (Pvt) Ltd, based in Sandunpura, Dehiattakandiya.

In the December 2012 quarter the firm said it made 104 million rupees in profits, up 23 percent from 86.7 million rupees a year earlier.

Revenues also rose 24 percent to 576 million rupees in the quarter, from a year earlier.

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