Sri Lanka’s Bairaha Farms to invest Rs1.3bn to increase production
ECONOMYNEXT – Sri Lankan poultry firm Bairaha Farms said it will spend Rs1.3 billion to increase day old broiler chick production by more than 50% over a period of three years.
The investment will be done through Siyane Farms Ltd., a fully owned subsidiary of Bairaha Farms, a stock exchange filing said.
Last January Bairaha Farms announced it was expanding feed mill storage facilities.
The company’s net profits had slumped by half in the December 2017 quarter to Rs98 million from a year ago with falling revenues and shrinking margins.
(COLOMBO, February 28, 2018)