Hayleys MGT Knitting Mills returns to profit in March 2015 quarter

COLOMBO (EconomyNext) – Fabric manufacturer Hayleys MGT Knitting Mills reported a net profit of 36 million rupees in the March 2015 quarter compared with a loss of 89 million rupees a year ago.

Earnings per share for the quarter of the firm, a unit of the Hayleys group, were 19 cents, as the company recovered after suffering losses stemming from a fraud in 2011.

A stock exchange filing said quarterly sales fell three percent to two billion rupees with cost of sales falling six percent to 1.8 billion rupees.
 
For the full financial year ended 31st March 2015, EPS was 47 cents while net profit was 90 million rupees compared with a loss of 183 million rupees the year before.