The firm made a 19 million-rupee net profit in the December 2010 quarter compared with a loss of 43 million rupees the year before.
Sales in the December quarter rose 34 percent to 398 million rupees and earnings per share were 46 cents against a loss per share of 1.78 rupees the previous year.
The company however still ended the year with a loss of 2.8 million rupees compared with a loss of 78 million rupees the previous year while full-year sales rose 15 percent to 1.4 billion rupees.
In June 2010 Dankotuwa Porcelain struck a deal with a consortium of investors to get 433.5 million rupees in fresh capital to help the loss-making firm turnaround on the verge of bankruptcy.
The consortium consisting of Environmental Resources Investments (ERI) and Ceylon Leather Products (CLP) now holds 67 percent of the tableware exporter.
The CSE filing said funds from the private placement were received in September 2010 and 177 million rupees used to settle overdue bank liabilities, pay off long outstanding suppliers to smoothen up the supplies chain, and settle overdue staff arrears.
The balance funds were invested in short-term investments.
Dankotuwa Porcelain said in December that it had improved kiln technology and reduced cost after the cash infusion.
It was badly affected by a downturn in exports caused by recession, labour trouble and high production costs because of archaic kiln technology and soaring prices of key inputs like gold
source - www.lbo.lk
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