LAUGFS Gas PLC, a pioneer in Sri Lanka’s energy sector, secured the Gold Award in the “Power and Energy Category” for the sixth consecutive year at the 54th CA Annual Report Awards 2018.
Organised by the Chartered Accountants (CA) Sri Lanka, the CA Annual Report Awards is a prestigious awards ceremony that recognises Sri Lankan organisations for their reporting standards, benchmarking global practices.
LAUGFS Gas PLC, one of the pioneers in Sri Lanka’s power and energy sector, follows the internationally recognised GRI Sustainability Reporting standards to report on its economic, social and environmental performance.
The company’s continuous commitment to deliver sustainable value to its stakeholders has been recognised over the years with numerous awards and accolades.
“We are honoured to be recognised at the CA Annual Report Awards for the sixth consecutive year, as we continue to strengthen the transparency and integrity in our financial reporting. This award serves to reinforce our team’s commitment to continue delivering sustained value to all our stakeholders through our economic, social and environmental activities,” said LAUGFS Gas PLC Chief Executive Officer, Ashan De Silva.
LAUGFS entered the local LPG downstream industry in 2001,and has since rapidly expanded its distribution network with over 30 distributors and over 7000 dealers to serve domestic, commercial and industrial LPG requirements across the country. With customised energy solutions and unparalleled service using in-house expertise, LAUGFS Gas has served the local LPG industry as a trusted brand that is synonymous with quality and consistency.
In 2010, LAUGFS Gas became the first ever energy company to be listed in the Colombo Stock Exchange with an Initial Public Offering (IPO). It continued to expand into the Bangladesh market with the acquisition of PetredecElpiji in 2015 and today is one of the largest LPG downstream distributors in the country.
LAUGFS Gas has also invested to strengthen its value chain in LPG maritime, logistics, and energy trading, to become a regional energy conglomerate. As a diversified energy conglomerate, the company operates in LPG retailing with LAUGFS Gas in Sri Lanka and Bangladesh, LPG maritime logistics with LAUGFS Maritime that operates its own fleet of ships, LPG transhipment terminal facilities with LAUGFS Terminals as well as energy trading with Dubai based SLOGAL Energy DMCC.
During early 2017, LAUGFS Gas PLC embarked on a strategic restructuring, where its non-core businesses in renewable energy, leisure and vehicle emission testing were divested, allowing the company to transform into a pure-play energy conglomerate and further strengthen its future prospects for growth and expansion.
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