trending Market Intelligence /marketintelligence/en/news-insights/trending/CMGuyDBSSh09qwtCxNZQNA2 content esgSubNav
In This List

Tea Smallholder Factories swings to loss in fiscal Q3

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Tea Smallholder Factories swings to loss in fiscal Q3

Tea Smallholder Factories PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 1 Sri Lankan cents per share, compared with 13 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 271,250 rupees, compared with income of 3.7 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 0.1% from 0.6% in the year-earlier period.

Total revenue decreased 23.8% on an annual basis to 446.5 million rupees from 585.7 million rupees, and total operating expenses declined 22.7% year over year to 447.5 million rupees from 578.8 million rupees.

Reported net income came to a loss of 522,000 rupees, or a loss of 2 cents per share, compared to income of 15.5 million rupees, or 52 cents per share, in the prior-year period.

As of Feb. 1, US$1 was equivalent to 144.06 Sri Lankan rupees.