CIC Holdings PLC continued its onward journey despite a challenging environment to post a Revenue of 34.78 Bn and a Profit After Tax of 1.98 Bn at the end of the first six months of the current financial year 2023/24.

As the Country continues to emerge from the economic crisis, yet grappling with a  high cost of living and a declining consumer demand coupled with high distribution and administration costs impacted the CIC Groups bottom line despite recording a marginal increase in Revenue over the corresponding period last year.

CIC Holdings operates its businesses under five business verticals ,namely  Crop Solutions, Agri Produce, Livestock Solutions, Industrial Solutions and Health & Personal Care.

The Groups key Crop Solutions Business which comprises Plant Nutrients, Seeds and Other inputs recorded a positive top line growth although it witnessed a decline in its bottom line due to compressed margins and lower prices with intense competition, mainly for conventional Plant Nutrients. The Health & Personal Care sector recorded steady growth in its top line and a marginal increase in its bottom line mainly due to the locally manufactured branded generics being offered at an affordable price.

The other two  Clusters within the CIC Group, Industrial Solutions and Livestock Solutions witnessed a decline in both top line and bottom line.

With a focused and consistent strategy along with the ability to stay agile and optimize opportunities presented in a dynamic and challenging operating environment, CIC is optimistic of continuing on a positive trajectory for the current year and in contributing   towards the islands economic recovery and growth enhancing the value to all its stakeholders.

Strengthening the collaboration between CIC Holdings PLC and Nutrition Society of Sri Lanka to
address a long felt need of the country a memorandum of understanding was signed to
translate and validate the “Nutrition guidelines for 5 – 10 years old children in Sri Lanka”. The
event took place on 9 th November 2023 at Swastha by Link Natural, Colombo. Objective of this
project was to translate and validate the formulated nutrition guidelines for young children in
age between 5-10 years in Sri Lanka. The project was managed by the Nutrition Society of Sri
Lanka and funded by CIC Healthcare. This project will be completed within four months period
and CIC will join hands with the relevant stakeholders to communicate Nutrition Guidelines to
parents, teachers and target groups.

Participants
Dr. Dhammika Senanayake, President, Nutrition Society of Sri Lanka
Mr. Aroshan Seresinhe, Group Chief Executive Officer, CIC Holdings PLC
Mr. Jit Gunarathne, Independent Non- Executive Director
Prof. Anoma Chandrasekara, Professor, Wayamba university of Sri Lanka
Mr. Viraj Manathunga, Group Chief Strategy Officer, CIC Holdings PLC
Mr. Charith Gunathunga, Project Coordinator, Nutritionist- CIC Holdings PLC
Mr. Roshan Delabandara, Nutritionist

Reference to the article published in the front page of the Daily Mirror today (Friday) 18th August 2023.

This article states that two factories including a Chemical Storage Plant were destroyed by a Fire and that one of the factories was a manufacturing site of CIC Lanka Ltd.

We wish to inform the general public that the factories which caught fire did not belong to CIC Holdings Plc or any other company in the CIC Group.

The PIM launched a Strategic Leadership Development Programme (SLDP) specifically to develop the senior managerial staff of CIC Holdings PLC. This program was placed under the broad category of the PIM EDPs (Executive Development Programmes) cluster. It included 32 senior managerial staff of the company. They will go through a series of contemporary management competencies with specified action projects. The inauguration ceremony was held on February 14, 2023.

Senior management representatives of PIM and participants from CIC Holdings PLC, posing for a photograph at the inauguration day of the ‘Strategic Leadership Development Programme.’

Visit us at Maitland Crescent, Colombo 07 to shop for your favourite Link Natural’s wellness, healthcare and personal care products for a healthy, long life. Discover Holistic Wellness at Swastha by Link Natural.

CIC SCHOLARSHIP AWARD CEREMONY

CIC Holdings granted Educational Scholarship recently to children of employees who excelled at the year 5 scholarship exam,G C E (O’Level) and G C E (A’Level) examinations.
Employees Children who obtained entrance to a State University and who excelled in Sports at National Level were also recognized.