"Local manufacturing had also benefited by better energy prices and a somewhat more favourable exchange rate," Haycarb Managing Director Ananda Hettiarachchy said in a statement.

"Haycarb’s manufacturing companies in Thailand and Indonesia, which enjoy more favourable cost bases, had performed well in the quarter under review, and the group’s Australian company had begun turning around," he said.

Higher local output made possible by improved raw material supply has combined with better prices generated by value added products to help Haycarb, the company statement said.

Hettiarachchy said that although local plants produced higher volumes owing to better availability of charcoal in comparison to the previous year, Haycarb had to continue to import charcoal at a higher cost to maximize capacity use.

"Haycarb has sharpened its focus on marketing value added products that fetch higher prices and achieved a greater degree of integration across its local and overseas operations," the statement said.

The group has also continued to expand its manufacturing facilities overseas to establish a presence in other markets and better reach customers in countries like Thailand, Indonesia and India, which have sizeable local markets.

Haycarb has an installed capacity of more than 22,000 MT a year and marketing offices in the UK, Australia and USA.

Its product range covers standard, washed, and impregnated carbons in granular, pellet and powder form which are used in water and air purification and gold recovery.