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Sri Lanka value-added tea exports boost Finlay profits

Aug 12, 2009 (LBO) - Sri Lanka's James Finlay group said June 2009 quarter net profit shot up 75 percent to 80 million rupees from a year ago as exports of value-added teas with better profit margins grew.
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The company, part of the Swire group of the UK, said in a stock exchange filing of provisional results that June quarter group revenue went up eight percent to 1.2 billion rupees.

It reported earnings per share of 2.

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29 rupees in the June 2009 quarter compared with 1.
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30 rupees the year before.

Finlays Colombo chairman Kumar Jayasuriya said in a statement that the group's Beverage Packing Division exported 3.

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7 million kilos of tea in the first six months of the year.
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"While the overall volume remained more or less unchanged from last year, focus on margin expansion through exports of high-value-added teas and productivity gains continued," Jayasuriya said.
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"Exports in the form of packets and teabags represented about 87 percent of the total volume and 90 percent of total value shipped.

"Market expansion was also continued successfully through a strategy of differentiating ourselves as a supplier capable of offering a wide range of value added teas in consumer packs that conform

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