Sri Lankaâ€™s Hayleys Fabric loss narrows in March quarter
ECONOMYNEXT – Losses at Sri Lanka’s Hayleys Fabric PLC fell sharply in the March 2019 quarter from a year ago as sales rose with the firm ending the financial year back in profit.
The Hayleys group firm’s March quarter loss fell 83 percent to 94,109 US dollars from 543,143 dollars a year ago, according to interim accounts filed with the stock exchange.
Quarterly sales rose 21 percent to 18.5 million dollars. The stock last traded at 7.90 rupees, down six percent.
Hayleys Fabric made a profit of just over a million dollars in the year to 31 March 2019 from a loss of 679,516 dollars the year before with sales up 21 percent to 70 million dollars.
(COLOMBO 14 May 2019)