HAYLEYS FABRIC IS HEADING IN A POSITIVE DIRECTION

Hayleys Fabric made a profit of USD 95,854/- during the second quarter ended 30th September 2017. This is an improvement on the first quarter although the Company is at a cumulative loss of USD 66,794/- for the first half ending 30th September 2017. The main contributory factor for the loss was the unprecedented floods which hampered the production in the first quarter.

The outlook for the next quarter amidst an increase in raw material costs looks positive with an order book with better margins with production from new machinery also coming into operation. The enhancement of the Printing facility with Reactive printing and the commencement of sublimation printing, embossing facilities would enhance the Company’s product offering to attract a higher market share.

Hayleys Fabric PLC is a subsidiary of Hayleys PLC whose Board of Directors is comprised of Mohan Pandithage, Shammika Perera, Rohan Goonetilleke, Sarath Ganegoda, Haresh Somashantha, Nandajith Somaratne, Ananda Jayatilleka, and Dr. Sunil Nawaratne