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Tuesday, June 28, 2011

Textured Jersey to take advantage

Potential growth opportunities in Sri Lanka, South Asia:

Ramani Kangaraarachchi

The latest listing would enable Textured Jersey to take advantage of potential growth opportunities in both Sri Lanka and South Asian region, Brandix Lanka CEO and Textured Director Jersey Ashroff Omar told a media briefing at the Taj Samudra Hotel yesterday. He said that the infrastructure at the 650,000 sq ft facility in Avissawella enables a capacity to knit ,dye and finish up to 2.5 million metres of fabric a month .

Omar said that Textured Jersey has delivered strong financial results during the last five years despite facing challenges in the form of rising cotton prices, energy costs and loss of tariff concessions.

He said that the company recorded a net profit US $ 6.1 million after tax. Knit products were the fastest growing segment of the Sri Lankan apparel export market, which is growing strongly even after the end of the GSP regime last year. It is a major supplier to apparel manufacturers throughout Asia and end retailers being the pre -eminent producer of value added knitted fabric.

Pacific Textiles CEO Bill Lam said “Volatility in cotton prices and regional currency appreciation are industry wide headwinds but these challenges will facilitate industry consolidation in the longer term.
source - www.dailynews.lk