Hayleys Fabric returns to profit in 2Q

Wednesday, 1 November 2017 00:00 - - {{hitsCtrl.values.hits}}

Hayleys Fabric made a profit of $ 95,854 during the second quarter ended 30 September 2017 as against a loss of $ 162,648 in the first quarter.

Nevertheless, the company is at a cumulative loss of $ 66,794 for the first half ending 30 September 2017.

The main contributory factor for the loss was the unprecedented floods which hampered 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 and embossing facilities will enhance the company’s product offering to attract a higher market share.