Keells Food Products

Sri Lankan meat processing company

Keells Food Products PLC

Logo of Keells Food Products

Company type| Public

Traded as

| CSE: KFP.N0000
ISIN| LK0101N00002
Industry| Food
Founded| November 5, 1982; 42 years ago (1982-11-05)
Headquarters|

Colombo

Sri Lanka

Key people

| Krishan Balendra (Chairman)
Brands|

* Keells Krest
* Elephant House

Revenue|  LKR6,444 million (2023)

Operating income

|  LKR230 million (2023)

Net income

|  LKR14 million (2023)
Total assets|  LKR4,303 million (2023)
Total equity|  LKR2,108 million (2023)

Number of employees

|  543 (2023)
Parent| John Keells Holdings
Website| www.keellsfoods.com
Footnotes / references
[1]

Keells Food Products PLC is a processed meat company, headquartered in Colombo, Sri Lanka.

## History

[edit]

Keells Food Products was founded in 1982 and listed on the Colombo Stock Exchange in the following year.[1] In 1992, the government decided to impose a 30% luxury item tax on processed meat reducing the profits of the company.[2] Keells Food Products acquired D&W Foods Ltd in Pannala for LKR700 million in 2012. With the acquisition, the production capacity was doubled. D&W Foods Ltd is a Board of Investment of Sri Lanka-approved project that was set up as a joint venture with a Belgian company to produce Frankfurter sausages for the export market.[3] The company's corporate social responsibility project won an award at Ceylon Chamber of Commerce's 2012 Corporate Citizen Awards.[4] Keells Food partnered with Sri Lanka Cricket to sponsor the South African cricket team's 2014 Sri Lanka tour. The company has been a long-term patron of cricket in Sri Lanka.[5]

## Operations

[edit]

The company's Keells Krest brand has been the market leader in the processed meat market segment for three decades.[6] Keells Krest brand is one the 100 most valuable brands in Sri Lanka. The brand value of Keells Krest is estimated to be worth LKR1,127 million in 2022, a 12.6% growth from the previous year.[7] Keells Food Product is ranked 15th in LMD 100 second board in its 2020/21 edition. LMD 100 ranks publicly quoted companies of Sri Lanka by revenue annually.[8] The company has been set up to fill the gap in providing quality food to the hotel industry in Sri Lanka. Hotels and airlines have remained long-term clients of the company.[9] Keells Food Product commissioned a new factory in Makandura Industrial Zone in Pannala in 2019.[10] High food inflation due to the Sri Lankan economic crisis affected the company's and its sister company Ceylon Cold Stores' supply chain. The direct cost of the company rose by 81% in the second quarter of 2022.[11]

## See also

[edit]

* List of companies listed on the Colombo Stock Exchange

## References

[edit]

1. ^ a b "Annual Report 2022/23" (PDF). cse.lk. Keells Food Products PLC. Retrieved 23 May 2023.
2. ^ "Keells Food". Asiamoney. No. 4 (6-7). Euromoney Publications. 1993. p. 31. Retrieved 14 January 2023.
3. ^ "Keells to double capacity with Rs. 700 m buy of D&W's processed meat plant". Daily FT. Wijeya Newspapers. 26 June 2012. Retrieved 14 January 2023.
4. ^ Edirimuni Chandrasekera, Duruthu (18 November 2012). "Corporate Citizen Awards: SL firms realise that money and profit are not everything". The Sunday Times. Wijeya Newspapers. Retrieved 14 January 2023.
5. ^ "Keells Foods partners with SL Cricket for South Africa tour of Sri Lanka". Daily FT. Wijeya Newspapers. 4 August 2014. Retrieved 14 January 2023.
6. ^ "Keells Food Products inaugurates state-of-the-art factory for Keells Krest Ezy Rice". Daily FT. Wijeya Newspapers. 16 October 2019. Retrieved 14 January 2023.
7. ^ "Sri Lanka 100 2022" (PDF). brandirectory.com. Brand Finance. 2022. p. 16. Retrieved 14 January 2023.
8. ^ "LMD 100". lmd100.lk. Media Services Pvt Ltd. 2022. p. 140. Retrieved 14 January 2023.
9. ^ Fonseka, Tilak (June 1999). "Best Management Practices in Sri Lanka: Manufacturing Sector" (PDF). Journal of Comparative International Management. 2 (1): 19–34\. ISSN 1718-0864. Retrieved 14 January 2023.
10. ^ "Keells Food Products inaugurates factory for Krest Ezy Rice". Daily News. Associated Newspapers of Ceylon Limited. 11 October 2019. Retrieved 14 January 2023.
11. ^ "Keells Food June results offer insights into red-hot inflation seeping through food supply chains". Daily FT. Wijeya Newspapers. 20 July 2022. Retrieved 14 January 2023.

## External links

[edit]

* Official website

* v
* t
* e

John Keells Holdings

Hospitality|

| Cinnamon Hotels & Resorts|

| John Keells Hotels|

* Cinnamon Bentota Beach
* Cinnamon Citadel Kandy

|

* Cinnamon Grand Colombo
* Cinnamon Lakeside Colombo
* Cinnamon Life at City of Dreams Sri Lanka
* Cinnamon Red Colombo

* Walkers Tours

Food|

* Ceylon Cold Stores
* Keells Food Products

Real estate|

* Crescat Boulevard
* K-Zone Ja-Ela
* Victoria Golf Course

Other|

* Cinnamon Air
* John Keells IT
* Keells (supermarket chain)
* Union Assurance

* v
* t
* e

S&P Sri Lanka 20 Index ←   All Share Price Index companies of Sri Lanka

Energy|

* Lanka IOC
* LAUGFS Gas

Materials|

* Alumex
* Chevron Lubricants Lanka
* CIC Holdings
* Dipped Products
* Haycarb
* JAT Holdings
* Swisstek (Ceylon)
* Tokyo Cement

Capital Goods|

* Access Engineering
* ACL Cables
* Aitken Spence
* Brown and Company
* Colombo Dockyard
* E. B. Creasy & Company
* Hayleys
* Hemas Holdings
* John Keells Holdings
* Lanka Tiles
* Lankem Ceylon
* Renuka Holdings
* Richard Pieris & Company
* Royal Ceramics
* Sierra Cables
* Softlogic Holdings
* Vallibel One

Transportation|

* Digital Mobility Solutions Lanka

Automobile and Components|

* Kelani Tyres

Consumer Durables and Apparel|

* Ambeon Holdings
* Dankotuwa Porcelain
* Hayleys Fabric
* Hela Apparel Holdings
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Consumer Services|

* Aitken Spence Hotel Holdings
* Asian Hotels and Properties
* Ceylon Hotels Corporation
* Citrus Leisure
* Galadari Hotels (Lanka)
* Hayleys Leisure
* Hunas Holdings
* Jetwing Symphony
* John Keells Hotels
* Mahaweli Reach Hotels
* TAL Lanka Hotels
* The Fortress Resorts
* The Kingsbury
* The Lighthouse Hotel
* The Nuwara Eliya Hotels Company
* Trans Asia Hotels

Retailing|

* Diesel & Motor Engineering
* Odel
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Food and Staples Retailing|

* C T Holdings
* Cargills (Ceylon)

Food, Beverage and Tobacco|

* Bairaha Farms
* Carson Cumberbatch
* Ceylon Cold Stores
* Ceylon Grain Elevators
* Ceylon Tobacco Company
* Dilmah
* Distilleries Company of Sri Lanka
* Harischandra Mills
* HVA Foods
* Keells Food Products
* Lanka Milk Foods
* Lion Brewery (Ceylon)
* Melstacorp
* Sunshine Holdings

Household and
Personal Products|

* Swadeshi Industrial Works

Health Care Equipment
and Services|

* Asiri Hospital Holdings
* Ceylon Hospitals (Durdans)
* Lanka Hospitals
* Nawaloka Hospitals

Banks|

* Amana Bank
* Cargills Bank
* Commercial Bank of Ceylon
* DFCC Bank
* Hatton National Bank
* HDFC Bank of Sri Lanka
* National Development Bank
* Nations Trust Bank
* Pan Asia Bank
* Sampath Bank
* SDB bank
* Seylan Bank
* Union Bank of Colombo

Diversified Financials|

* Capital Alliance
* Central Finance Company
* Citizens Development Business Finance
* LB Finance
* LOLC Finance
* LOLC Holdings
* People's Leasing & Finance
* Vallibel Finance

Insurance|

* Amana Takaful
* Ceylinco Insurance
* Janashakthi Insurance
* Softlogic Life Insurance
* Union Assurance

Telecommunication
Services|

* Dialog Axiata
* Sri Lanka Telecom

Utilities|

* Vallibel Power Erathna
* WindForce

Real Estate|

* C T Land Development
* Colombo Land and Development Company
* Overseas Realty

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