31.12.2013 Quarter Reports on 01.02.2013

Gaja · 1 31.12.2013 Quarter Reports on 01.02.2013 Fri Feb 01, 2013 7:15 pm

Gaja

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INTERIM FINANCIAL STATEMENTS 31-12-2012
ACME PRINTING & PACKAGING, HAYLEYS MGT KNITTING MILLS, HORANA PLANTATIONS, BOGAWANTALAWA TEA ESTATES , SIERRA CABLES
Interim Financial Statements for the period ended 31-12-2012 have been uploaded on the CSE website.

Redbulls · 2 Sri Lanka knit fabric maker reduces losses Tue Feb 05, 2013 2:50 pm

Redbulls

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Feb 05, 2013 (LBO) - Sri Lanka's Hayleys MGT Knitting said it lost 110 million rupees in the December 2012 quarter down from a loss of 156 million rupees a year earlier.

The firm reported a loss of 73 cents per share. For the nine months to December the firm reported a loss of 196 million rupees, down from 514 million rupees a year earlier.

Hayleys MGT raised cash and went through a re-structuring process after the discovery of unreported losses.

The firm has US dollar accounts which are translated into rupees.

Hayleys MGT said revenues rose 19 percent to 11.5 million US dollars in the December 2012 quarter from a year earlier and cost of sales kept pace rising 20 percent to 11.1 million US dollars.

Gross profit fell 10 percent to 390 million US dollars. Translated into rupees however gross profits were up 4 percent to 51 million rupees. Sri Lanka's rupee weakened during 2012.
http://lbo.lk/fullstory.php?nid=1650380348

Redbulls

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Feb 05, 2013 (LBO) - Profits at Sri Lanka's Horana Plantations Plc, which mainly grows tea rose almost trebled to 100 million rupees in the December 2012 quarter from a year earlier, on stronger tea prices.

The firm reported earnings of 4.03 rupees per share for the quarter. In the nine months to December earnings were 6.14 rupees per share on profits of 153 million rupees which rose 692 percent.

The stock traded at 26.20 rupees on Tuesday, up 1.20 rupees.

Sri Lanka's tea auction prices have risen in 2012 partly helped by a depreciation of the rupee against the US dollar of around 15 percent.

The firm said revenues rose 19 percent to 623 million rupees in the December quarter, and cost of production rose at a slower 5.0 percent to 481 million rupees, giving gross margins of 142 million rupees up 120 percent.

Sri Lanka's rupee fell in 2012 after large volumes of bank loans were taken by state enterprises in the preceding months to manipulate energy prices, which were ultimately accommodated with central bank credit.

After falling to 134 to the US dollar from 110 the rupee by mid 2012 the rupee recovered to around 127 to the US dollar by the year-end.

Last week the state also suddenly slapped an export tax on tea with no prior warning drawing protests from the industry.
http://lbo.lk/fullstory.php?nid=2060797050