Tue, 05 Jul 2022 Today's Paper

Tax reversal helps Tea Smallholders’ 3Q

21 January 2019 11:26 am - 0     - {{hitsCtrl.values.hits}}

A A A

Tea Smallholder Factories PLC has returned to the black during the December quarter (3Q19), as the company saw its earnings for the period rising 47 percent year-on-year (YoY) to Rs.13.7 million, thanks to a Rs.8.9 million tax reversal.


The earnings per share (EPS) for the period improved to 46 cents from 31 cents a year ago.


The revenue for the period fell 27 percent YoY to Rs.481.2 million. The gross profit fell 36 percent YoY to Rs.13 million. The modest growth in production and the higher prices fetched at tea auctions last year by Ceylon tea helped the John Keells Holdings subsidiary to report positive results during the financial year ended in March 31, 2018. 


The fortunes of the company as well as the tea industry change on production, prices and worker wages are not linked 
to productivity.

 

Meanwhile, for the nine month ended December 31, 2018, the company reported a net loss of Rs.15.1 million against a net profit of Rs.54.5 million a year ago.
The top line fell 21 percent YoY to Rs.157 billion.


The loss per share for the period was 50 cents against an EPS of Rs.1.82.


Tea Smallholder Factories PLC, which makes black tea from leaves bought from small farmers, operates seven factories in Galle, Ratnapura and Ginigathhena and caters to a green leaf supplier base of over 17, 600, which accounts for 5.8 percent of the total tea smallholders registered in Sri Lanka.


John Keells Holdings has 37.63 percent of the issued shares of the company while Akbar brothers as the second largest shareholder has 24.39 percent. Central Finance Company PLC also has 22.85 percent stake in Tea Smallholders PLC.

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, 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.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, 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.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


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




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, 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.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Lesson for Lanka from Ecuador’s crises, its relations with US and China

In faraway Ecuador, a crisis similar to the one Sri Lanka is facing, is threa

Some mill owners sell imported rice under local brands - Dudley Sirisena

President of Rice Millers’ Association and Chairman of Araliya Group Dudley

Spotlight on losses associated with so called development projects

Many of the projects aimed at developing the country have only become a burde

Fresh Approaches in Safeguarding the Environment

“Every citizen has a constitutional duty and obligation to protect the envi