“Due to this conducive economic conditions we are also planning to float several initial public offerings of our subsidiary companies this year, Laugfs Gas Chairman W.K.H Wegapitiya said.z_pi-Laugfs01.jpg
Speaking at their Annual General Meeting (AGM) held at the Grand Ballroom, Water’s Edge, he said that several new ventures were launched during these 12 months, further strengthening the highly diversified conglomerate.
“A milestone achievement among these was the group’s entry into the leisure sector earlier this year with the opening of the 87 roomed Anantaya Resort and Spa in Chilaw. In addition to this Laugfs, a giant in the energy sector, commissioned the first hydro power plant under Laugfs Power in Balangoda, while Laugfs Property Developers reached the final stage of completion of its first project at Maya Avenue.â€
The company’s first Integrated Annual Report was released for 2013/14, marking the first step towards integrating environmental, people, economic and financial performance reporting. Laugfs launched the Enterprise Resource Planning (ERP) implementation project, which is expected to bring a host of benefits to the company and enable it to forge ahead with added power.
In 2013/14 also saw Laugfs Gas, which was previously listed under the Diri Savi Board, being transferred to the Main Board of the Colombo Stock Exchange on January 29 2014. This move has reconfirmed the vision of the company to further enhance its core values of transparency, responsibility and professional growth within the industry.
Laugfs Gas and its subsidiaries have delivered exceptional results in 2013/14 surpassing all previous achievements for key indicators such as revenue, pre and post-tax profits, total assets, net assets and earnings per share.
