The company’s strong cash position has allowed TJL to maintain its trend of very generous dividend pay-outs with Rs. 0.80 per share being declared as the final dividend for FY2013/14. According to Mr. Bill Lam, Chairman of Textured Jersey, the company managed another year of “impressive results despite recent adverse weather conditions faced in the United States, softening retailer demand growth”, according to a company release.
During the year under review, sales reached Rs. 12.7 billion, 16 per cent higher than that of last year. The company maintained its gross margin for FY2013/14 at 11 per cent levels, and was able to achieve a 15 per cent year-on-year growth in gross profit to Rs. 1.5 billion. The gross profit for 4Q FY2013/14 also increased 14 per cent year-on-year reaching Rs. 403 million. The same trend continued at the operating profit level, with FY2013/14 margins maintained around 8 per cent, with Rs. 1.1 billion reported as the annual operating profit, up 10 per cent year-on-year. This annual operating profit was achieved on the back of a strong quarterly profit of Rs. 313 million for 4Q FY2013/14 up 9 per cent year-on-year, it was noted.