Exterminators records 48% in capital gains, pays Rs. 31.5 Mn dividend year after listing

Exterminators PLC, Sri Lanka’s premier pest tech and environmental enhancement Technology Company, during the first nine months of the FY22-23, showed a revenue increase of 37%, gross profit up by 29% operating profit increase by 29%, profit before tax up by 63% and the net profit up by 62%.

The GP margin was 73%, the NP margin was 27% and the capital gain was 48% as of March 28, 2023. The company’s dividend payout in 2022 was LKR 31.5 million, which included a cash dividend of LKR 14 million and a scrip dividend amounting to LKR 17.4 million. Exterminators PLC also celebrates one year being listed in the Colombo Stock Exchange on March 30, 2023. Founded with an initial investment of Rs. 75,000 way back in 1998, today’s Exterminators PLC market capitalization is over Rs. 470 million and the company also created history by becoming the first pest management company in South Asia and emerging and developing markets to be listed on the stock exchange.

In December 2022, Exterminators PLC created history on the Colombo Stock Exchange by migrating to the ‘DiriSavi Board’, just over eight months after listing on the ‘Empower Board’ of the CSE. In January 2023, the company ventured into agriculture by setting up its first flagship ‘Agri Store’ in Dambulla under the brand name ‘Enviotech’ to cater to the agricultural sector, plantation sector, livestock sector, landscape sector and hotel sector by supplying novel energy-saving, environmentally sustainable international brands and technologies.

In March 2023, the company opened a 5000 plus square foot innovation centre to enhance the quality of service via in-depth research, development and innovation to create a circular economy in order to meet the growing demand for environmentally sustainable public health pest management, agricultural pest management, livestock, plantation and landscape pest management, sanitation and disinfection services in Sri Lanka and emerging and developing markets.

Marlon Ferreira, Managing Director of Exterminators PLC, stated, “We anticipate that the pest management and agricultural sectors will have significant growth in the mid- to long-term in Sri Lanka and the emerging developing markets.”

The company is expecting to expand to several key cities on the island and has plans to set up the global business expansion project in the first quarter of the financial year 23/24.