Sunday Observer Online
 

Home

Sunday, 24 May 2015

Untitled-1

observer
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

Hayleys MGT-Knitting Mills shows positive turnaround

Hayleys MGT-Knitting recorded a profit after tax of Rs. 90 million (US $ 680,000) for the financial year ending March 31, 2015, delivering a profit growth of 149% and a top line growth of 6% year-on-year.

FY 2014-15 marked the first year of the company recording a surplus after consecutive losses during the recent past. The company also generated a cash profit of Rs 412 million (US $ 3.1 million) in the year under review.

The changes made in the top management continued to show results by attracting business to fill capacity and though improved performance on quality and on-time delivery. Cost reduction measures, productivity improvements, system and process improvements were some of the main contributory factors for the better performance.

The positive results shown from the first quarter of 2014 gave confidence to institutional investors to make significant investments, shareholders to oversubscribe a rights issue and the banking sector to enhance credit facilities which helped the company to significantly improve its cash flow position as well as restructure loans.

During the year, the company also made significant investments to up-grade production technology, information systems, enhanced effluent treatment facility and training and development of the staff. One of the key differentiations made during the year was to set up an innovation centre to develop new fabric which became a tremendous success to attract new business.

Today, the fabrics are sold under a special brand named ‘Inno’. The company hopes to make further investments during the ensuing year and looks forward to increasing the stakeholder value.

 | EMAIL |   PRINTABLE VIEW | FEEDBACK

www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lank
www.batsman.com
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)
www.army.lk
www.news.lk
 

| News | Editorial | Finance | Features | Political | Security | Sports | Spectrum | World | Obituaries | Junior | Youth |

 
 

Produced by Lake House Copyright © 2015 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor