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Sri Lanka Talawakelle Tea makes Sept quarter loss

ECONOMYNEXT – Talawakelle Tea Estates PLC, part of Sri Lanka’s Hayleys group, slipped into the red in the September 2015 quarter owing to the prolonged slump in tea prices.

The firm made a loss of two million rupees in the latest quarter against a profit of 18 million rupees the year before, interims accounts filed with the Colombo stock exchange showed.

Sales for the quarter fell 14 percent to 865 million rupees from the year before.

Talawakelle Tea made a loss per share of nine cents in the September quarter. Earnings per share for the six months ending September 2015 were 32 cents compared with EPS of 2.42 rupees a year ago.  (Colombo/Nov03/2015)

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