Consistent demand for its products, and continued value addition have generated encouraging results for Haycarb in the first quarter of 2010-11, the company said this week.
It said the performance of its Sri Lankan operation was below expectations, primarily due to increasing domestic costs and the appreciation of the rupee, but this was offset by very good performances from overseas marketing and manufacturing operations.
Haycarb reported profit before tax of Rs. 209 million against a turnover of Rs. 1.5 billion for the three months ending 30th June 2010 in comparison with profit before tax of Rs. 118 million reported for the corresponding period of the previous year.
Haycarb Managing Director Rajitha Kariyawasan said the demand for activated carbon remains strong but cautioned that the very high charcoal price would continue to challenge the margins of its largest manufacturing base in Sri Lanka. |
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