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[February 2008]
Sri Lankan Wall Tile Manufacturer Increases Profits
LBO reports that the Sri Lankan ceramic wall tile manufacturer Lanka Walltile has recorded net profits for Q4 2007 increased 71% year-on-year to LKR 122 million (approx £580,000).
Turnover was up 25% to LKR 1.7 billion (approx £8.1 million) from LKR 1.4 billion (approx £6.7 million) in the same period last year, according to the interim results submitted to the Colombo Stock Exchange.
Net profit for the nine months ending December 2007 rose 23% year-on-year to LKR 263 million (£1.25 million).
A construction boom that has been going on for the past five years has increased demand for ceramic tiles, although there has been a slowdown in parts of the construction industry, especially upmarket apartment complexes owing to a saturated market, high interest rates and galloping inflation, added LBO.
www.lankawall.com
ENDS