Hayleys MGT post-tax profit up 44% to $ 4.1m in nine months
Turnover grows 18% to $ 44.8 m:
Sustained operational and sales performances in the third quarter of
2007-08 enabled Hayleys MGT Knitting Mills, Sri Lanka's largest
polyester and polar fleece fabric manufacturer, to post noteworthy
results for the first nine months of the year.
The Hayleys PLC associate has recorded a profit after tax and
economic service Charge (ESC) of US$ 4.1 million for the nine months
ending December 31, a growth of 44 per cent over the corresponding
period of last year.
Post tax profit for the third quarter, at US$ 1.47 million reflected
a marginal drop over the second quarter figure of US$ 1.7 million.
According to the company's income statement released to the Colombo
Stock Exchange turnover grew 18 per cent to US$ 44.8 million in the
period under review while profit before tax was up 44 per cent to US$
4.2 million. Hayleys MGT's earnings per Share stood at Rs. 8.98 (US$
.08) as at December 31, 33 per cent higher than a year previously and
more than 50 per cent higher than the Rs. 5.76 (US$ .05) reported at the
end of the second quarter of the current year.
The figures for the period reviewed were based on the amalgamated
results achieved by Hayleys MGT Knitting Mills and its former subsidiary
Hayleys ADC Textiles Ltd. Hayleys MGT Knitting Mills won the National
Productivity Award in October 2007 for noteworthy achievements in labour,
material, energy and capital productivity indicators in 2006-07.
It also became the first local manufacturer to achieve SA8000 Social
Accountability Standard in the same month. |
