Textured Jersey Lanka PLC (TJL) reported a net profit of Rs. 206mn for the quarter ended June 30 2015 (1Q FY 2015/16), a commendable overall profit growth of 26% year on year.
TJL Chairman Bill Lam said the company achieved two key strategic milestones during the year; announcing the acquisitions of Ocean India (Private) Limited (OCI) and Quenby Lanka Prints (Private) Limited (QLP).
During 1Q FY2015/16, pursuant to the conclusion of all legal and regulatory formalities, TJL was able to consolidate QLP as a wholly owned subsidiary of TJL with effect from June 1 2015.
Accordingly for 1Q FY 2015/16 TJL recorded consolidated revenue of Rs. 2.8bn with a net profit of Rs. 206mn creating a platform for synergies and further growth in value added products.