This cover features a milking cow of the European breed Ayrshire, reared at the Ambewela Dairy Farms amid a subtropical cool and misty climate, with fresh air, and clean water. Always fed with scientic feed rations including "Alfalfa" imported from Spain and "Rye Grass"from our own lush green elds. We continue to maintain the highest standards for our cows to ensure their health, well-being, and productivity.
We have consistently improved and upgraded the quality of our herd by meticulously selecting the best semen from pedigreed bulls from Europe, resulting in the exceptional size and weight of our cows and the amount of milk they produce exponentially.
When we took over the farms in the year 2001 the average weight of a cow was only 450kg. Today, their average weight stands at approximately 650kg and the quantity of milk produced has also increased from 9 litres to 30 litres per cow, per day. The total production of milk increased from 3000 to 35,000 litres per day.
These exceptional animals such as the one pictured on the cover page regularly produce over 50 litres of milk per day.
Together, these eorts ensure that the highest standards in dairy products, beginning from the source itself, are maintained from the udder to the consumer.
This Ayrshire cow produces an average of 50Lts milk per day.
50 LITRES
MILK/PER DAY
One of the reasons why Ambewela fresh milk is always your best choice.
(Read overleaf)
This annual report is also available on our website https://www.lmfgroup.lk/reports/
Let's stay connected
Ambewela
Daily
SETTING THE
BENCHMARK
Having nourished the nation for more than half a century with our exceptional dairy products, we have had a positive effect for generations making sure that every family has the best possible experience with our products. The best value from our farms to your home bring our locally based flagship brands to you. We continue to expand and grow, making Lanka Milk Foods
a recognised and revered household name. This creates extra value for every stakeholder as we continue our mission to deliver the best taste and the most trusted quality. Our passion for what we do which has worked for us for more than 5 decades speaks for itself, thereby setting a benchmark.
2
LANKA MILK FOODS (CWE) PLC
ANNUAL REPORT 2021/22
CONTENTS
GROUP OVERVIEW
Vision, Mission, About this Report
4
Group Structure
5
Our Range of Products
6
Financial Highlights
10
LEADERSHIP
Chairman's Message
14
Group Chief Executive Officer's Message
18
Board of Directors
21
MANAGEMENT DISCUSSION & ANALYSIS
Value Creation Model
26
Key Pillars of Our Vision and Focus
28
Shared Growth Through
Stakeholder Engagement
29
Operating Environment
31
Financial Capital
33
Company Performance
35
Social & Relationship Capital
37
Human Capital
39
Manufactured Capital
42
Intellectual Capital
44
Natural Capital
46
GOVERNANCE
Corporate Governance
50
Enterprise Risk Management
60
Report of The Audit Committee
64
Report of The Remuneration Committee
65
Related Party Transaction
Review Committee Report
66
Annual Report of the Board of Directors
67
Statement of Directors' Responsibilities
71
FINANCIAL STATEMENTS
Independent Auditor's Report
74
Statement of Profit or Loss and Other
Comprehensive Income
78
Statement of Financial Position
79
Statement of Changes In Equity
80
Statement of Cash Flows
82
Notes to the Financial Statements
84
SUPPLEMENTARY INFORMATION
Shareholder and Investor Information
139
Ten Year Summary
141
Notice of Meeting
146
Form of Proxy
147
3
LANKA MILK FOODS (CWE) PLC
ANNUAL REPORT 2021/22
14
50
CORPORATE
CHAIRMAN'SGOVERNANCE
MESSAGE
18 74
FINANCIAL
STATEMENTS
GROUP CEO'S
MESSAGE26
MANAGEMENT DISCUSSION & ANALYSIS
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Lanka Milk Foods (CWE) plc published this content on 01 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2022 06:00:05 UTC.
Lanka Milk Foods (CWE) PLC is a Sri Lanka-based dairy and beverage company. The Company's segments include powdered milk, liquid milk and others, agriculture, and trading. The powdered milk segment is engaged in importing, packaging and distribution of milk allied products. The liquid milk and others segment is engaged in the operating chain of packaging and selling ultra-high temperature (UHT) products, Daily, Ambewela Farm Fresh Milk, Yogurt and Fruit Juice. The agriculture segment is engaged in the rearing of cattle to produce and sale of cow milk and agricultural development of the farm. The trading segment is engaged in the distribution of Happy Cow Cheese, Red Bull and Blue Energy Drink. Its products include Lakspray Milk Powder, Ambewela Milk, Ambewela Goat Milk, Ambewela Cheese, Ambewela Yoghurt, Ambewela Yoghurt Drink, Daily Activ, Daily Flavoured Milk, My Juicee, Dano milk powder, BLU and Kiddos. It operates two dairy farms in the country: Ambewela Farm and Pattipola Farm.
LANKA MILK FOODS (CWE) PLC 