Dec 10, 2009 (LBO) – Cargills (Ceylon) group, which runs Sri Lanka’s largest retail chain, said it plans to open 100 more supermarkets in all the island’s 25 districts in the next few years. The company said last month that net profits in the September 2009 quarter rose 35 percent to 139 million rupees from a year earlier, and that it was planning a billion rupees in new investments in the current year.
Cargills, which own landmark buildings in Colombo Fort that were Sri Lanka’s first department stores, is part of the Ceylon Theatres group which is into property development, financial services, manufacturing and plantations.
The Ceylon Theatres group is controlled by the Page family. The first of the new outlets, its 140th covering over 10,000 square feet with a range of 10,000 products, was opened Thursday in the Rajagiriya suburb of the capital Colombo.
“This outlet marks the first of 100 more Cargills Food City outlets that we will set up in neighbourhoods across 25 districts in the coming years,” Ranjith Page, chief executive of Cargills (Ceylon), said.
The company, one of Sri Lanka’s oldest firms dating back to the British colonial era, said in a statement that it has