Mon, 28 Nov 2022 Today's Paper

Ceylon Leather halts footwear manufacturing subsidiary operations

10 September 2015 02:58 am - 0     - {{hitsCtrl.values.hits}}

A A A

Ceylon Leather Products PLC (CLPL) said it had suspended the operations of Palla & Company (Private) Limited, a footwear manufacturing subsidiary, with effect from August 31, 2015.

Though reasons were not given in yesterday’s stock exchange filing, the CLPL annual report noted that Palla & Company “did not meet expectation” due to “uncertain market conditions”.

Palla & Company is a Board of Investment (BoI) company located at the Katunayake Export Processing Zone focused on the European and American markets.

“During the year under review, the company (Palla & Company) made a net loss of Rs.167.3 million. This was the result of low capacity utilization resulting from lack of orders. In view of the above, we have made full impairment for the Investment made by Ceylon Leather Products,” 2014/15 CLPL annual report said. 

According to the official website of Palla & Company, the company was setup to manufacture high-quality leather shoes. The website further said the company had a staff of over 550 employees, managed by Italian and Brazilian professionals.

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 Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  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 Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop 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




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 Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Downfall and death of LTTE’s Mahathaya

The Liberation Tigers of Tamil Eelam (LTTE) ceased to exist as a functioning

Rishi Sunak; why SL did not have a Tamil or Muslim as President?

Britain now has a British Asian, Hindu Prime Minister, though Rishi Sunak is

How and why MGR launched ADMK 50 years ago

17 October 1972 was a Tuesday. Fifty years ago on that auspicious day, a new

Amitabh Bachchan: Evergreen Emperor of Hindi cinema turns 80

Well-known Hindi film actor Amitabh Bachchan celebrated his eightieth birthda