After a difficult year subsequent to the re-structure, CIC Holdings PLC reported after tax profit of over Rs. 1 billion at the end of the third quarter of the current financial year, an increase of over 300% compared to the corresponding period of the past financial year.
Turnover for the nine months was Rs. 23,802 mn and Profit After Tax at 1,103 mn for the nine months ended December 31.
The company has shown resilence in the face of tough times, to grow all its businesses, with the Crop Solution sector being the stand-out performer. Favourable weather during the year contributed largely to the top line and bottom line growth of the Crop Solutions sector.
Despite challenging macro economic conditions, the Health Care and Personal care cluster and the Industrial Solutions cluster also recorded satisfactory growth.
Following the re-strategising of some of the businesses and the focus purely on the core business itself the CIC Group is poised to complete the current financial year on a high note.