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Sri Lanka's Hayleys Fabric returned to profit in the June 2018 quarter with net earnings of 16million rupees compared with a loss of 25 million rupees a year earlier, accounts filed with the stock exchange showed, on improving margins and growing order book out of Europe thanks to GSP Plus.
Hayleys Fabric PLC's problems persisted in controlling direct costs and overheads as the knit fabric maker expanded losses during the quarter ended in March 2018 while the top line grew.
Hayleys group knitted fabric manufacturing unit, Hayleys Fabric PLC, turned a net loss of little under two million rupees or a loss per share of 1 cent from a profit of Rs.53 million a year ago for its January — March quarter (4Q17) as the revenues remained flat while the administrative and finance cost rose.
The Hayleys group knitted fabric manufacturing unit, Hayleys Fabric PLC, reported a net profit of 6 cents a share for the quarter ending December 2016, against 34 cents a share recorded during the same quarter last year, the interim report of the company showed. The net profit for the quarter accordingly was Rs.12.15 million, a sharp 83 percent decline from a year ago. This is the third quarter in a row the company’s profits have fallen
The Hayleys Puritas Sath Diyawara initiative identified 16 villages which has a population over 25,000 people to provide purified drinking water by leveraging on the company’s expertise in water purification.
The Hayleys group’s textile manufacturing unit, Hayleys Fabric PLC marked a turnaround in the financial year 2015/2016 (FY16) amid changes to the firm’s top management, cost cutting and productivity improvement measures, the interim financial accounts showed.
Hayleys Fabrics PLC (formerly known as Hayleys MGT Knitting Mills PLC) was awarded the bronze in the Manufacturing sector at the 51st Annual Report Awards conducted by the Institute of Chartered Accountants of Sri Lanka together with their strategic partner, Colombo Stock Exchange, on December 3rd , 2015.
Hayleys Fabric PLC announced that it has unveiled its new identity on 1st September, 2015.
Hayleys Fabric PLC announced on 27th August 2015, that it has received the certificate of merit from the Institute of Certified Management Accountants of Sri Lanka (CMA) for Integrated Reporting (Annual report 2014/15).
Hayleys MGT Knitting Mills PLC announced that it has changed it has changed its name to Hayleys Fabric PLC on June 30, 2015. The change was notified via a filing to the Colombo Stock Exchange, following the receipt of a certified copy of the Certificate of Incorporation issued by the Registrar of Companies, dated 30th June 2015.

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