Tea Smallholder Factories records PBT of Rs. 29.41 m

Monday, 1 June 2015 00:00 - - {{hitsCtrl.values.hits}}

Tea Smallholder Factories PLC recorded Profit Before Tax (PBT) of Rs. 29.41 million for the financial year 2014/15, this being a 74% decrease over the PBT of Rs. 112.24 million recorded in the previous financial year.

The profit attributable to the equity holders of Rs. 35.99 million was a 56% decrease over the Rs. 81.48 million reported in the previous financial year. The decline in profitability is primarily on account of the 4% reduction in the average sales price for low grown tea in the financial year 2014/ 15 compared with the previous financial year.

Revenue was Rs. 2.52 billion, this being a decrease of 6% over the revenue of Rs. 2.68 billion recorded in the previous financial year.