Malwatte Valley has both tea and rubber plantations with its teas grown in the Uva region of the central hills usually fetching high prices during the quality season in August-September.

The stock exchange filing showed no provision had been made for wage arrears and gratuity following a recent near 40 percent wage hike granted in October after labour unions blocked movement of tea from jill country estates to the Colombo auctions.

The wage hike wrested by estate labour unions that had caused losses in many other plantations firms during the quarter.

Malwatte Valley said that in the nine months to September earnings from rubber rose 233 percent to 203 million rupees from 61 million while that from tea rose seven percent to 388 million from 361 million.