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June 28, 2021 - Conglomerates in Sri Lanka | Investments in Sri Lanka

Daily Archives: June 28, 2021

Acquisition of South Asia Textiles Likely to Weigh on Hayleys Fabric Earnings in Short-term

News ReleasesBy Anupama Sivaloganathan June 28, 2021

The purchase of South Asia Textiles Limited by Hayleys Fabric PLC could in the short-term weigh on the combined entity earnings due to decline in margins and the increase in finance cost stemming from the borrowings, which may have been made to fund their April acquisition. Hayleys Fabric PLC on April 23 paid Rs.3.95 billion…

TTEL Consolidates Sustainability Drive with Gold Status

News ReleasesBy Anupama Sivaloganathan June 28, 2021

Talawakelle Tea Estates PLC (TTEL), a leading member of the Hayleys Plantations Sector, obtained the Gold status for all three steps of Measure, Reduce and Contribute under the Climate Neutral Now (CNN) initiative of the United Nations Framework Convention on Climate Change (UNFCCC), setting another regional benchmark in the plantations industry. One of several initiatives…