Tea Small Holder Factories PLC (TSML), a unit of John Keells Group that purchases green leaf tea from the smallholders has reported a net loss of Rs.9.17 million as at 30 June 2011, compared to a profit of Rs.22.49 million a year ago.
The latest quarterly financial of the company also outlined that the company’s net profit had fallen 141% whilst Gross profit had come down by 97% to Rs.1.71 million compared Rs.51.83 million. The company’s revenue had also dipped 13% from Rs.582.78 million to Rs.505.95 million in June 2011. Subsequently, the Loss Per Share (LPS)has reported 31 cents compared 75 cents Earnings per Share a year ago.
The company’s revenue from Tea in Galle, Matara, Ratnapura and Nuwara Eliya districts had also dipped considerably according to the financials.
source - www.dailymirror.lk
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