Home / Knowledge / News / Textiles / Hayleys MGT posts noteworthy results for 9-months
Hayleys MGT posts noteworthy results for 9-months
04
Feb '08
Sustained operational and sales performances in the third quarter of 2007-08 have 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 profit after tax and economic service Charge (ESC) of US$ 4.1 million for the nine months ending 31st December, 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.

The company's income statement released to the Colombo stock Exchange this week reveals that 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 31 st December 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 firstlocal manufacturer to achieve SA8000 Social Accountability Standard in the same month.

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search