Sri Lanka’s Kelani Valley Plantations losses widen in Sept quarter

ECONOMYNEXT – Losses at Sri Lanka’s Kelani Valley Plantations shot up to 88 million rupees in the September 2015 quarter from 16 million rupees a year ago as the continued slump in tea and rubber prices took its toll.

Sales fell four percent to 1.5 billion rupees in the quarter, interim accounts filed with the stock exchange showed.

The company, a unit of the Hayleys conglomerate, said the loss per share for the September 2015 quarter was 2.60 rupees compared with a loss of 46 cents the year before.

In the six months to 30 September 2015, the loss per share rose to 3.46 rupees from 1.03 rupees the year before.
A note to the accounts said Kelani Valley Plantations estimated its liability to the 25 percent Super Gains Tax at 24.6 million rupees for the group in the 2013-14 financial year. (Colombo/November 09 2015)

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