CIC Holdings maintains growth momentum in first quarter

Group’s livestock segment does exceptionally well. Adds more heft into organic fertilizer production to mitigate impact from import ban on chemical fertilizers

CIC Holdings PLC delivered strong revenues and profits for the three months ended in June 30 (1Q22), maintaining the momentum it gained last year, as the group’s in teres ts in multiple business lines stood to benefit from pandemic created conditions, policy title towards domestic production and the g roup’s year-long strategic realignment, which ended recently.

CIC, which has interests in agri produce, livestock solutions, heath and personal care, industrial solutions and crop solutions, generated revenues of Rs.9.05 billion for the quarter under review, up 15 percent year-on year (YoY).

While all its business segments performed well at the top line level, live stock solutions segment did notably well during the three months with the continued strong demand for poultry feed due to increased demand for chicken and other poultry produce.