COLOMBO (EconomyNext) – Losses at Sri Lanka’s Agalawatte Plantations widened to 271 million rupees in the March 2015 quarter from a loss of 58 million a year ago as the firm was hit by the commodity price slump.
Sales of the firm, owned by the Mackwoods Group, fell percent to 527 million rupees over the period, a stock exchange filing said. The loss per share was 10.85 rupees.
The firm’s tea business suffered a loss of 91 million rupees compared with a profit of 14 million rupees the year before while the loss in rubber was almost 100 million rupees compared with a profit of 29 million rupees previously.
Oil palm was the only major crop that proved profitable, yielding a gross profit of 26 million rupees, up from 19 million rupees the year before.
Gross profit from other crops remained at around 10 million rupees.
Sales of the firm, owned by the Mackwoods Group, fell percent to 527 million rupees over the period, a stock exchange filing said. The loss per share was 10.85 rupees.
The firm’s tea business suffered a loss of 91 million rupees compared with a profit of 14 million rupees the year before while the loss in rubber was almost 100 million rupees compared with a profit of 29 million rupees previously.
Oil palm was the only major crop that proved profitable, yielding a gross profit of 26 million rupees, up from 19 million rupees the year before.
Gross profit from other crops remained at around 10 million rupees.
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