Hayleys MGT posts strong 9-month performance

Sustained operational and sales performances in the third quarter of 2007-08 enabled Hayleys MGT Knitting Mills, Sri Lanka’s largest polyester and polar fleece fabric manufacturer, to post noteworthy results for the first nine months of the year. The Hayleys PLC associate recorded profit after tax and economic service charge (ESC) of US$ 4.1 million for the nine months ending 31st December, a growth of 44 per cent over the corresponding period of last year. Post tax profit for the third quarter, at US$ 1.47 million reflected a marginal drop over the second quarter figure of US$ 1.7 million, the company statement said.m Turnover grew 18 per cent to US$ 44.8 million in the period under review while profit before tax was up 44 per cent to US$ 4.2 million.