Sri Lankan tableware exporter’s losses mount

COLOMBO (EconomyNext) – Sri Lankan tableware exporters Dankotuwa Porcelain’s losses widened in the March 2015 quarter to 111 million rupees from a loss of 35 million rupees a year ago.

A stock exchange filing said sales fell eight per cent to 470 million rupees during the quarter from the previous year.

Loss per share was 1.54 rupees. For the year ending 31 March 2015, the firm’s loss per share was 1.68 rupees.

The annual loss rose to 121 million rupees from 16 million rupees the year before despite sales growing 29 percent to 2.3 billion rupees.

Distribution and administrative expenses rose sharply during the year with finance costs up 80 percent to 89 million rupees, the interim accounts showed.

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