Talawakelle Tea shows rise in revenue

Talawakelle Tea Estates Ltd, an associate of the Hayleys Group, has reported a revenue of just over Rs. 1.29 billion in the nine months ended September 30, 2007. According to the interim report, gross profit for the company totalled close to Rs.169 million.

The gross profit for the year ended 31 December 2007 was Rs.218,3 million. The net profit for the nine months was Rs.15,636 million as opposed to a net profit of Rs.80,366 million in 2006.

The interim report also shows that finance costs have soared in 2007, totalling Rs.88,702 million as opposed to Rs.69,947 million being the finance costs for the entirety of 2006. Other operating incomes, administration expenses and management fees stayed relatively close to the figures from 2006. (NG)