Chevron Lanka’s PAT up by 58%

Chevron Lubricants Lanka’s profit after taxes (PAT) showed a 58% growth over last year at Rs 1,495 million (US$13.09 million). The global economic downturn had an adverse effect on the manufacturing industry in Sri Lanka thereby hurting revenues from industrial operations, Chevron Lanka Lubricants Managing Director Kishu Gomes said. It is anticipated that the northern and eastern markets will see brisk expansion in 2010 where infrastructure is being upgraded and trading activity is being expanded. (March 17, 2010)