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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 06-May-2013 Interim Financial Statements - 31-03-2013

06-May-2013 Interim Financial Statements - 31-03-2013

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sriranga

sriranga
Co-Admin
TEXTURED JERSEY LANKA
http://www.cse.lk/cmt/upload_report_file/1080_1367834676767.pdf

GOOD HOPE
http://www.cse.lk/cmt/upload_report_file/459_1367838746912.pdf

SHALIMAR
http://www.cse.lk/cmt/upload_report_file/703_1367838631122.pdf

SELINSING
http://www.cse.lk/cmt/upload_report_file/702_1367838907393.pdf

INDO-MALAY
http://www.cse.lk/cmt/upload_report_file/701_1367838834235.pdf
- Financial Statements for the period ended 31-03-2013 have been uploaded on the CSE website.

http://sharemarket-srilanka.blogspot.co.uk/

206-May-2013 Interim Financial Statements - 31-03-2013 Empty TJL Key Ratios Mon May 06, 2013 6:45 pm

sriranga

sriranga
Co-Admin
06-May-2013 Interim Financial Statements - 31-03-2013 Tjl_ke10

http://sharemarket-srilanka.blogspot.co.uk/

sriranga

sriranga
Co-Admin
Textured Jersey Lanka PLC (TJL) reported a net profit of Rs.323mn for the quarter ended 31st March 2013 (4Q FY2012/13), up 47.7% versus the corresponding period in the last financial year. TJL was able to conclude the financial year ended 31st March 2013 (FY2012/13) with an impressive net profit of Rs.1.02bn for the year, growing 61.9% year on year and surpassing the Rs.1bn milestone.

However, as cotton prices increased during 4QFY2012/13, the typical lag in the corresponding selling price adjustments affected the quarterly margins despite improved efficiencies and a better product mix. Therefore, gross profits for the quarter came in at Rs.355mn; a 31% decrease year on year. Further, TJL benefitted from a sharp drop in cotton prices in the corresponding quarter last year, making the year-on-year decline worse. Nevertheless, on an annual basis the improved margins resulted in gross profit for FY2012/13 remaining at Rs.1.31bn, a marginal 1.5% below last year’s figure despite revenue for the year being 10.5% lower compared to last year.

TJL maintained its tight control on overheads, reducing administrative expenses by 63.8% and selling and distribution expenses by 11.6% in 4Q FY2012/13, compared to the same period in the last financial year. Despite this, due to the reduced gross profit in the quarter, operating profit for 4Q FY2012/13 was restricted to Rs.288mn, a 20.7% decrease year on year. Nevertheless, the strict approach taken towards cost control during the year enabled TJL to deliver an annual operating profit of Rs.956mn for FY2012/13, 15.4% higher than the previous year.

TJL also maintained its strong balance sheet position as at 31 March 2013, with zero long-term borrowings and Rs.371mn in short-term borrowings compared with Rs.657mn as at 31 March 2012. The lower debt levels and a healthy cash balance of Rs.2.21bn resulted in the company recording a finance income of Rs.33mn for the quarter, compared with a finance expense of Rs.112mn during the same period in the last financial year.

Tight control of overheads and a strong cash position allowed TJL to record a net profit of Rs.323mn for 4Q FY2012/13, up 47.7% compared with the same period in the last financial year. This, combined with an impressive performance during the rest of the year, pushed TJL’s net profit over the Rs.1bn mark to Rs.1.02bn for the year ended 31st March 2013, a 61.9% year-over-year increase

Looking towards the future, TJL continues to carry a strong order book with new product lines and continued interest from TJL’s top clients, which include Victoria’s Secret, Marks & Spencer, Intimissimi and Decathlon. Management is therefore confident of maintaining sales volumes in the next quarter, and as TJL begins to pass through cotton price increases, management expects to regain margins in the coming quarters.

On strategic initiatives, the construction of TJL’s multi-fuel boiler plant is progressing according to plan. The plant is scheduled to be commissioned during 2H FY2013/14 and is expected to reduce TJL’s energy cost substantially. TJL’s expansion strategy is also moving forward according to schedule. Given the strong performance thus far, TJL’s management remains confident that the company will continue to enhance shareholder value by delivering strong results in the coming quarter.

Bill Lam
Chairman

http://sharemarket-srilanka.blogspot.co.uk/

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
TJL profits has declined in USD terms
It has increased profits thanks to LKR depreciation & interest income
Core profits has come under pressure

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Shocking results from evil oil palm companies.
When they are planning to delisting these companies from CSE? Mad

Tissa


Manager - Equity Analytics
Manager - Equity Analytics
TJL final dividend coming soon

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