Dialog

Topics: Board of directors, Non-executive director, Corporate governance Pages: 128 (34996 words) Published: June 29, 2013
Cargills (Ceylon) PLC
The year 2010/11 was a year of unprecedented investment for Cargills (Ceylon) PLC. We accelerated the expansion of our flagship supermarket chain while continuing to build on our strength in the food manufacturing sector. We entered new product categories and invested in people and in technology to harness this expansion. We redefined our place in the dairy sector acquiring a brand with a distinct identity that is synonymous with the industry. Through these investments we will connect our brands with millions of consumers to improve quality of life. Our investments will continue to help farmers and communities succeed, and our stakeholders enjoy sustainable returns. In the year 2011/12 and beyond our commitment towards Investing for Growth remains steadfast.

Contents
Our businesses Financial highlights Profile of Directors Chairman’s statement Corporate governance Audit & Remuneration Committee reports Risk management Sustainability report Financial information Statement of value added Five year financial summary Group real estate portfolio Investor relations supplement Notice of Annual General Meeting The proxy form is on page 73 2-3 4-5 6 7 - 11 12 - 16 17 18-19 20 - 26 27 - 66 67 68 69 70 - 71 72

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Annual Report 2011

Our businesses
Cargills (Ceylon) PLC
Cargills is Sri Lanka’s largest modern retailer with more than 50% of the modern trade market share. Its pioneer venture into modern trade was an innovation of the Company’s trading legacy. Thereafter Cargills Food City continued to challenge the norm by taking to the masses what was traditionally an affluent focused business and offering ‘higher value for the lowest price’. Today the Cargills retail operation has grown to 163 outlets spread across the 25 districts, as ‘Cargills Food City’ supermarkets, ‘Cargills Express’ convenience stores and Cargills ‘Big City’ hypermarket. In its short span of operation of 28 years, Cargills Food City has been consistently rated among the most valuable brands in Sri Lanka as per the Brand Finance Index rating. The Company is also in the business of food manufacturing, restaurant and distribution through its subsidiaries given below.

Cargills Quality Dairies (Private) Limited
Magic is the number one dairy ice cream in Sri Lanka and is a strong number two player in the overall ice cream market. Cargills Quality Dairies which produces Cargills Magic ice cream, Milk and Milk Shakes is the first and only dairy product manufacturing Company in Sri Lanka to be accredited with all three ISO certifications; ISO 9001: 2000 Quality Management System certification, ISO 22000: 2005 Food Safety Management System certification and ISO 14001: 2004 Environment Management System certification. Cargills Magic was the first to introduce fresh fruits and local flavours to its portfolio of ice creams creating a new trend in the overall ice cream industry. Through its innovation driven focus Cargills Magic has expanded its market share exponentially and is now the fastest growing ice cream brand in Sri Lanka.

Cargills Agrifoods Limited
Kist is one of the most trusted brand names in Sri Lanka known by generations for its true Sri Lankan flavours and high standards of quality. Cargills Kist which is traditionally renowned for its delectable selection of jams, sauces and cordials has expanded its 100% fruit based product range introducing fruit based nectars to the market. Today the nutritious and delicious Kist nectar range has revolutionized the industry and is popular for its genuine fruity taste.

Cargills Quality Foods Limited
The processed meats range consists of Cargills Supremo catering to mass market demand, Cargillls Finest a premium deli range and traditional favorites ‘Goldi’ and ‘Sams’. Cargills is rapidly gaining market share in this category through its product innovation, quality and unique taste. Cargills Quality Foods is the only meat processing plant in Sri Lanka that has secured the ISO...
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