Sri Lanka recycled plastics exporter sees brush demand, but yarn tied down by Covid-19
ECONOMYNEXT – Sri Lanka’s BPPL Holdings Plc, a recycled plastics firm said export demand for the brush sector was still strong but yarn was hit as sportswear stores were closed amid an international lockdowns to contain Coronavirus.
“Customer orders for our brush and brush filament operations remain strong with just a handful of customers requesting a short delay in shipments,” BPPL said in a stock exchange filing.
“Most customers have beenrequesting their goods to be shipped out as early as possible”.
“Our polyester yarn production, however, is negatively impacted by this pandemic as most sportswear brands we serve have had to close down their retail stores in the West.
In the March 2020 quarter the BPPL said group revenues were 579.1 million rupees, down from 774 million rupees a year earlier. Company revenues were 158.6 million rupees down from 159 million rupees, a year earlier.
The firm said there were enquires for the spring/summer 2021 season orders.
“Enquiries for orders for the spring/summer 2021 season are starting to come through now although we are uncertain as to when the situation will fully recover”. (Colombo/June03/2020)