Hayleys MGT becomes Hayleys Fabric

Monday, 6 July 2015 00:00 - - {{hitsCtrl.values.hits}}

Hayleys MGT Knitting Mills Plc has changed its name to Hayleys Fabric Plc.

The change was notified via a filing to the Colombo Stock Exchange last week following the receipt of a certified copy of the certificate of incorporation issued by the Registrar of Companies dated 30 June 2015.

Diversified blue chip Hayley’s textile sector in financial year ended on 31 March 2015 showcased the success of its turnaround program, posting a profit, a robust growth from the loss recorded in the previous year.

The sector has initiated a number of projects that are helping to redefine the business and gain recognition as an industry leader and an innovator.

Hayleys M G T- Knitting Mills Plc in FY15 recorded a profit-after-tax of Rs. 90 million ($ 680,000) delivering a profit growth of 149% and a top line growth of 6% year on year. FY 2014/15 marked the first year of the company recording a surplus after consecutive losses during the recent past. The company was also able to generate a cash profit of Rs. 412 Million ($ 3.1 million) in the year under review.