Sri Lanka knitwear firm lose Rs171mn

Aug 03, 2011 (LBO) – Sri Lanka’s Hayleys MGT, a knitwear maker, said it lost 171 million rupees in the June 2011 quarter from a year erarlier, as revenues fell 9 percent to 1.43 billion rupees. Gross profits fell to 111 million rupees in the quarter from 246 million rupees a year earlier and administration expenses rose 9 percent to 224 million rupees. The firm reported a loss of 3.38 rupees for the quarter.