Sri Lanka’s TJL Group (TJ), a knit fabric manufacturer said its year-to-date net profit was 2,172 million rupees while the revenue recorded was 17.8 billion rupees, a 30 percent increase.
“The boost in profits can be directly attributed to the synergy from acquisitions,stringent cost control initiatives, cutting edge innovations, and the Company’s growing product portfolio,” a statement said.
The Group recorded a consolidated revenue of 5.5 billion rupees in its fourth quarter, a 45 percent growth and a net profit of 825 million rupees a 62 percent growth over the previous quarter.
“Amidst an ever challenging global space we have continued to pursue every new opportunity; leveraging our regional footing and providing flexible and better solutions to a broader customer portfolio, through which we have enhanced our performance and increased value to our shareholders,” said Bill Lam, Chairman of the Group.
He said that the cohesive and smooth transition of the teams coming under the single TJ operating structure had greatly contributed to the delivery of these outstanding results.