Home / Knowledge / News / Textiles / BPPL Holdings to soon commission synthetic yarn plant
BPPL Holdings to soon commission synthetic yarn plant
17
Apr '17
Sri Lanka based BPPL Holdings is moving ahead with its plans for commissioning synthetic yarn plant over the next few months. The company has already placed orders with machinery suppliers following successful trials conducted with its own hot washed recycled PET flakes. It has also commenced construction of a new yarn production facility.

The new monofilament yarn manufacturing factory is being built in the Horana BOI Industrial zone at a cost of Rs 675 million. This facility is set to come on-stream in the January to March quarter of 2018 and contribute to revenue from April 2018, the company said while announcing its interim unaudited financial results for the eleven month period April 2016 to February 2017.

Consolidated revenue for the period was Rs 2.2 billion, up 19 per cent over the corresponding period in the previous year. Revenue continued to grow as the company pursued its dual objectives of penetrating the household market segment both through direct sales to retailers and own branded goods sales in Sri Lanka and Indonesia. Direct sales accounted for 11 per cent of total sales for the period, up 30 per cent year-on-year. Own branded goods also grew by 55 per cent, again over the corresponding period in the previous year.

Gross profit was up by a faster 30 per cent year-on-year to Rs 881 million due to margin expansion amid revenue growth. Gross profit margins, which improved from 37 per cent to 40 per cent during the eleven month period ended February 2017, continued to benefit from higher productivity, lower costs as a result of improved raw material sourcing and Sri Lankan rupee depreciation against the US dollar.

Improved productivity and stringent cost controls also led to a 47 per cent increase in operating profit to Rs 472 million compared to the same period in the previous year. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search