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Lucky Lanka Milk Company now under CSE watch list

Lucky Lanka Milk Processing Company PLC famous for Lucky yogurt is now facing liquidity issues and undergoing restructuring with the assistance of an investor willing to infuse capital, officials of the company claimed.

Colombo Stock Exchange (CSE) has transferred nine companies to their Watch List with effect from today due to non-submission of interim financial statements for the period ended 31 March 2018.This was revealed in a CSE announcement

The company will be raising equity capital by issuing 30 percent of shares in a public placement.

It has prepared 5 year strategic plan to increase profitability amidst stiff competition special from multi nationals’ Present chairman of the company. Lal Keerthi Gunawardhana disclosed.

The company has started its operations as a cottage industry nearly thirty years ago. Present chairman Lal Keerthi Gunawardhana being the aviator sailed the ship successfully and confidently in pain and gain equally. .

Colombo Stock Exchange has transferred nine companies to their Watch List with effect from today due to non-submission of interim financial statements for the period ended 31 March 2018.

Accordingly, Anilana hotels and properties, Adam capital, Tess agro, Ceylon & foreign trades, Janashakthi, Ceylon printers, Lucky Lanka milk processing, Office equipment and Paragon Ceylon have been transferred to Watch List.

Hotel developers (Lanka), has also been transferred to Colombo Stock Exchange’s Watch List due to non-submission of annual report 2017.

(LI)

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