Brandix Textile subsidiary sales decline

09 Jan '08

3 min read

Company has not raised any term loans for the said period where it has operated mostly from the internally generated funds.

Although the company has seen a decline in inventories and trade receivables due to the decline in sales, it has been successful in paying back approximately over LKR 500mn in trade creditors.

The company reached two significant milestones during the year by being awarded fair trade as well as organic certification.

The contribution of these certifications to the company is immense resulting in added marketability. This would also enable us to use organic cotton in our production thereby capture market share of environmentally conscious customers as well.

In order to save on cost and to build relationship with the work force by gaining their confidence, the manufacturing plant has taken steps to implement the concept of Quality circles and to form internal process quality teams.

At the recently concluded Annual General Meeting, Company declared a final dividend of LKR 1 per share for the year ended 31st March 2007.

The company is confident in achieving better results during the next two quarters and reaching a positive bottom line for the year. Projected profits are LKR 100mn which would be supported by revenue of over LKR 5.5bn.

Click here to view more:

KURUWITA TEXTILE MILLS LIMITED

More Brandix Lanka Limited News...