Tea Smallholder Factories PBT tops Rs 29.41 m for FY-14/15

Tea Smallholder Factories PLC’s profit before tax (PBT) for the financial year 2014/15, was Rs.29.41 million, this being a 74 percent decrease over the PBT of Rs.112.24 million recorded in the previous financial year.

The profit attributable to the equity holders of Rs.35.99 million was a 56 per cent decrease over the Rs.81.48 million reported in the previous financial year.

The decline in profitability is primarily on account of the 4 percent reduction in the average sales price for low grown tea in the financial year 2014/ 15 compared with the previous financial year. Revenue was Rs.2.52 billion, this being a decrease of 6 per cent over the revenue of Rs.2.68 billion recorded in the previous financial year. www.dailynews.lk