September quarterly results for Industrial Asphalts (ASPH), Tea Smallholder Factories (TSML)

October 20, 2018 (LBO) – The first quarterly results posted by CSE listed companies for the September quarter have been by Industrial Asphalts (ASPH) and Tea Smallholder Factories PLC (TSML).

ASPH saw a 220% increase year over year in revenue for the quarter, however despite this increase the company reported close to breakeven earnings. ASPH controlling shareholder is Govindasamy Ramanan with a 67% holding.

TSML reported a sharp 28% drop in revenue and a Rs32mn loss for the quarter. For the six months the company posted a Rs28mn rupee loss. TSML’s major shareholding is a three way split between John Keells, Akbar Brothers, and Central Finance.