Sat, 15 May 2021 Today's Paper

Teejay Lanka Sept. profits surge 84%

31 October 2019 10:53 am - 0     - {{hitsCtrl.values.hits}}

A A A

Leading textile maker, Teejay Lanka PLC, with manufacturing plants in Sri Lanka and India, saw its September quarter (2Q20) profits soaring, supported by efficiency improvements, strong order book and stable cotton prices.


The earnings for the period under review rose 84 percent year-on-year (YoY) to Rs.783.1 million, on a revenue of Rs.9.3 billion, up 22 percent.


The earnings per share improved to Rs.1.12, from 61 cents a year ago.


This is the eighth consecutive quarter Teejay Group has grown in net profit. 


The cost of sales grew at a slower pace of 18 percent YoY to Rs.7.9 billion, compared to revenue, reflecting the favourable cotton prices, the main raw material the company operates with.

The gross profit for the quarter period rose 51 percent YoY to Rs.1.3 billion.


“The overall growth in gross profits is attributed to improved product mix, internal efficiencies resulting from operational excellence initiatives and stabilisation of Cotton prices,” Teejay Lanka Chairman Bill Lam said.


Teejay Lanka in July signed a memorandum of understanding with Luen Fung Textiles to diversify into lace manufacturing.


“This collaboration will significantly enhance our product portfolio and enable us to offer a versatile product range to our customers,” Teejay Lanka CEO Shrihan Perera said.

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Between an Ego fearful of failure and an impending human catastrophe

For some reason, we thought that we were immune from the Coronavirus. We thou

Indian Covid-19 variant added to WHO’s variants of concern : Prof. Neelika Malavige

Globally new cases of Covid are falling, after an all-time peak through March

MeGha Primal Intake: A mega scam by few govt doctors ?

Days after the Dhammika Paniya was rejected as a cure against COVID-19, news

DMK Chief M. K. Stalin Becomes Tamil Nadu Chief Minister

“Stalin Thaan Varraaru, Namakku Vidivu Tharraaru” (Stalin is only coming

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.