Sierra Cables signs joint venture agreement with T&G Electricals, Norway

Saturday, 22 October 2011 00:00 - - {{hitsCtrl.values.hits}}

Sierra Cables has signed a joint venture agreement with T&G Electricals, Norway, the company said in a Stock Exchange filling.

T&G Electricals is a leading supplier of electrical and fibre optic connectors, cables, cable systems and harnesses. Sierra Cables and T&G Electricals are partners of T&G Lanka Ltd., a Board of Investment company which manufactures and exports fibre optical cables.

Sierra Cables saw revenue increase 54% to Rs. 500 million in the June quarter of 2011 as profits increased 218% over the same quarter last year to Rs. 48 million.

This followed a loss of Rs. 15 million in the year ended March 2011, an 86% decline. Revenue in the year ending March 2011 increased 44% to Rs. 1.4 billion.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.