Milco’s financial turnaround: A boost to Sri Lanka’s dairy sector
- 5opn1
- November 11, 2024
- Business News
- Milco
- 0 Comments
The Sri Lankan government has made significant strides in revitalising the local dairy sector, with a particular focus on Milco Pvt Ltd (MILCO), the country’s leading dairy producer.
Investments in dairy farming and the modernisation of production facilities have been key components of this strategy. Milco has emerged as a central player in the effort to boost local milk production, with the company’s financial and production capacity growing rapidly in recent months.
According to Nishantha Wickramasinghe, Secretary of the Ministry of Livestock, “Milco has achieved an impressive milestone by recording a monthly sales target of Rs.2 billion in October”.
This is the highest revenue ever achieved in a single month by the company. This success comes on the heels of a challenging period when Milco was facing financial difficulties and had been considered for sale under the previous administration due to sustained losses.
