18 September 2024 12:13 am Views - 44
| Exterminators Managing Director Marlon Ferreira |
Exterminators PLC, Sri Lanka’s premier pest management and environmental technology company, has remarkably demonstrated financial resilience during FY24, achieving notable profitability despite the prevailing economic challenges.
The company reported a staggering 167 percent increase in net profit and an extraordinary 352 percent rise in profit before tax, alongside a 143 percent growth in operating profit compared to the previous fiscal year.
Notably, while the overall sales dipped by 7 percent, revenue from service activities saw a modest increase of 3 percent. This commendable performance, however, was not without its hurdles. A significant decline of 85 percent in revenue from the international brands can be attributed to stringent import restrictions and diminished consumer purchasing power, primarily due to the economic instability. The impact of increased corporate tax, along with the introduction of value-added tax and SSCL, further exacerbated the challenges. The middle-class demographic, a vital revenue stream contributing approximately 25 percent of total income, has been severely affected by the rising personal income taxes and inflation, leading to reduced consumption levels. Nonetheless, through strategic planning and innovation, Exterminators PLC has adeptly navigated these obstacles, illustrated the resilience of its business model and reinforced its commitment to long-term growth and sustainability.
Nonetheless, amid these trials, Exterminators PLC has displayed remarkable adaptability and strategic foresight. The company’s leadership has focused on calculated responses to the economic challenges, enhancing operational efficiency and exploring new revenue streams. This approach has not only allowed Exterminators to navigate the tumultuous waters of FY24 but also to emerge fortified, demonstrating an unwavering commitment to innovation and strategic growth.
Moreover, the collaborative efforts within the company have been crucial in fostering a culture of resilience. Employees’ dedication and commitment have driven the company towards its objectives, reinforcing a strong belief in the effectiveness of its business model. As the company moves forward, it remains poised to capitalise on emerging opportunities while continuing to address the challenges posed by the dynamic economic environment.