June 15, Colombo: Touchwood Investments Limited, Sri Lanka’s only publicly quoted commercial forestry plantation company, has announced a net profit of Rs. 284 million for the financial year ending on 31st March 2008. The company’s revenue for the same period has been approximately Rs. 600 million.

“Our profits have increased by nearly four folds in comparison to the previous financial year. The revenue too has increased by 29%. This portrays the stable commercial growth of TWOD. In addition, these figures clearly indicate that the public have placed their trust on TWOD and have increasingly invested in various schemes offered by us,” the Chief Executive Officer of TWOD Asitha Koralage said.

TWOD was incorporated in 1999 with the approval of the Board of Investment of Sri Lanka (BOI), and has carried out Teak, Mahogany, Sandalwood, and Vanilla plantation projects in approximately 1,500 acres of land during the past nine years. Most of these commercial forestry plantations are located in the Ratnapura, Badulla, Matugama and Matale districts.