State‑owned dairy company Milco (Pvt) Ltd achieved a historic financial turnaround last year, recording its highest‑ever net profit of Rs.1.49 billion by late 2025, according to Agriculture and Livestock Deputy Minister Namal Karunaratne.
Deputy Minister Karunaratne told Parliament last week that the recovery enabled the company to halt privatization plans, clear debts, and extend unprecedented financial benefits.
On December 31, 2025, Milco disbursed a performance bonus of Rs.75,000 each to all 1,228 employees. In addition, Rs.180 million in profit‑sharing incentives was distributed among 22,000 dairy farmers, marking the first such payout in 21 years.
He further said that Milco had previously accumulated Rs.3.5 billion in bank loans and Rs.1.7 billion in outstanding payments owed to milk‑supplying farmers, but all debts have now been settled.
He further announced that the long‑delayed Badalgama milk factory project will recommence, with capacity to process up to 200,000 liters of milk daily.
Plans are also underway to upgrade the National Livestock Development Board’s farm in Nikaweratiya, with an additional Rs.1 billion budget allocated to supply high‑yield dairy heifers and male stock to local farmers. (Newswire)