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  • SHARK
    started a topic TJL Community

    TJL Community

    Teejay Lanka PLC, formerly Textured Jersey Lanka PLC, is a knitted fabric manufacturer. The Company manufactures Single jersey, Ribs and Interlock product categories for intimate apparel, active and leisure wear in the form of Yarn Dyes, Solids, Prints and Marls. The Company operates through two segments: Textile manufacturing-Sri Lanka and India, and Fabric printing-Sri Lanka. The Textile manufacturing-Sri Lanka and India segment is engaged in the business of manufacturing and selling of weft knit fabrics to export and to indirect export. The Fabric printing-Sri Lanka segment is engaged in rotary screen printing of knitted and woven fabrics to export and to indirect export. Its subsidiaries include Quenby Lanka Prints (Private) Limited, which offers rotary screen printing of knitted and woven fabrics; Ocean Mauritius Limited, which is engaged in investment holding, and Ocean India Private Limited, which manufactures knitted fabrics.

  • SHARK
    replied
    Hayleys Fabric and TJL done very well. Lets look at one more quarter

    Leave a comment:


  • PAT
    replied
    Good result for TJL

    SP should move with the time....

    Leave a comment:


  • prasa2004
    replied
    This shows YP Gvt does not have a quick back up plan to come out of such incidents faster. This was not like LTTE attack for CB during past. It is questionable management skills of UNF bigwigs as they should have looked into these bottlenecks in mighty quick time. .

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    Following Easter Sunday attacks: Apparel industry likely to miss export target


    The apparel export industry is facing several short and long term challenges following the Easter Sunday attacks, the industry officials said.

    One of the key issues faced by the industry is to ‘meet the delivery time set by the buyer community’.

    Chairman, Sri Lanka Apparel Exporters Association, Rehan Lakhany said, some factories had to undergo work force absenteeism due to the location of those factories and some exporters managed to continue with tight schedules to meet customers’ demand. “Overall there would be a negative impact on the entire industry which will affect the apparel export target for 2019,” he told Daily News Finance.

    Currently, many buyers have cancelled official trips to the island and some have rescheduled their visits in overseas locations. However, there are some buyers who have completely abandoned buyer agreements with the country. “As an Association, we need to assure the International buyer community that the country will be brought back to normalcy soon,” he said.

    There will also be an expected drop in the placement of orders but, Lakhany hopes that the industry could be recovered quickly. Further the expansion and investment procedures have been halted and some factories are unable to meet the expected deadline.

    “Thus, there will be negative short term as well as a long term impact,” he added. The government needs to do more in terms of security so that the country will be able to win back the International confidence. Unless there will be drastic drawback on the nation’s economy. Managing Director, Bernard Botejue Industries Ltd, Janaka Botejue said that they are not affected so far by the last month’s carnage. “There is no reduction in workforce and our daily processes are done without any difficulty,” he said. However, because of the activities happened, the international buyer community is concerned and if something happens again, a reduction in the demand could happen, he said adding that ‘currently there is no reduction in demand’. Botejue further highlighted that higher security immunity needs to be built within and the government should be well concerned in keeping up the peace and prosperity of the country.

    Managing Director, Trendywear Pvt Ltd, Mahika Weerakoon said that they are facing many short term and long term impacts.

    Short term impacts include - the delay in clearance of raw material from port due to heightened security and wariness of transporters to undertake transporting of goods due to long wait times and security checks, vessel schedules of import cargo being changed by freight companies, absenteeism of workers causing production delays and service provider and local supplier inability to function regular hours causing delays in garment testing and procurement of locally sourced raw materials.

    Cancelling planned buying trips to Sri Lanka impacts the industry in long term. This will result in less order placements for future and some customers contemplating completely pulling out of Sri Lanka. Thus the demand for Sri Lankan products within the world market reduces which paves the way for the competing markets to take the position that Sri Lanka held so far.


    “So far we have been able to work out delivery with customers with extensions,” she said. Also on curfew days managers have been loading containers because workers are not capable of reporting to work. The local police have helped with necessary curfew passes to ensure that the goods are shipped as far as possible on time.

    Since they had planned deliveries on low capacity after New Year holidays due to general worker absenteeism after the long vacation, less than 5% of deliveries were affected with this sudden calamity.

    Accounting for the fact that most western countries still have travel advisory against visiting the Island, buyers are unable to visit for planned buying and other trips even if they are keen to continue work. Hence buyer confidence needs to be built which is not that easy. “Most long standing customers want to continue and support Sri Lanka,” Weerakoon added.

    She also said that due to the light loading capacity, if the country gets back to normalcy within this week they will be able to fulfill existing orders. But if the current curfew needs to continue then major delivery slides, airfreight and cancellations will be met.

    Moreover, Weerakoon requests the government not to block social media like whatsapp, viber, skype as most customers use these to communicate business deals accounting for the time difference in countries. “When these do not work and we do not respond they think the worst,” she said. Instead the general public needs to be educated on how to use social media appropriately without fully banning them.

    The government should bring back peace and stability soon, to win confidence back. It needs to be shown that it is safe to visit and appeal countries to lift travel advisories against Sri Lanka.

    “Furthermore we do need to emphasize that the industry should not make use of the current crisis in the country with customers to seek delivery extensions etc to overcome any other obstacles they may be facing as it will hurt the image of the country on long terms,” she said.

    Last year the apparel exports grew by 5% thus an annual compound growth rate more than 6% is expected to be achieved this year. By 2025, the industry expects to achieve USD eight billion from apparel exports

    Leave a comment:


  • SHARK
    replied
    Strong free cash flow, financial assets up over 1bil through current year.
    debts lowered.

    Leave a comment:


  • prasa2004
    replied
    Brilliant performance.
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    Teejay ends positive 2018-19 with 6th straight quarter of profit growth


    Posts 12-month net profit of Rs 1.86 billion on sales of Rs 31.7 billion

    Sri Lanka’s multinational textile manufacturer Teejay Lanka PLC has ended FY 2018-19 on an impressive note, with consistent sales and profit gains of the preceding months bolstered by robust growth in the final quarter, the Group’s sixth consecutive quarter of profit growth. Economy of scale benefits generated by record production volumes from its expanded manufacturing facilities in India and cost-control and process improvement initiatives combined to enable the Weft knit fabric specialist to post profit before tax of Rs 2.17 billion for the 12 months ending 31st March 2019, an improvement of 19.5 per cent on revenue of Rs 31.7 billion, which was up 29 per cent.

    Group profit after tax grew by 17 per cent to Rs 1.86 billion consequent to income tax for the year increasing by 40 per cent, Teejay Lanka said in a filing with the Colombo Stock Exchange (CSE).
    Revenue in the fourth quarter of 2018-19 at Rs 8.82 billion reflected an improvement of 35 per cent over the corresponding quarter of the previous year, while net profit for the quarter grew by 19 per cent to Rs 605.7 million, the Company said.

    Teejay Lanka Chairman Mr Bill Lam described the year as “a very successful” one for Teejay, in which the Group overcame challenging global market conditions through capacity expansion and internal measures.

    “Prices of our main raw material, cotton yarn, increased in the beginning of the year and stabilised during Q4. Dyes and chemical costs increased significantly due to the challenges faced by the suppliers. We also saw utility prices increase during the year which was directly attributable to the global movement of fuel prices. Through process improvements and price revisions on finished goods, we were able to mitigate part of the cost escalation,” he said.



    Mr Lam disclosed that the Teejay Group continued its strong balance sheet from the previous year with a net cash balance of Rs 4.9 billion. “Commitment and discipline are especially evident as the Group is debt-free despite the on-going expansion projects,” he said.



    “The Group has been able to introduce two key global customers to its portfolio in the financial year and is on track to create strategic business partnerships for the future,” he added. “We have also been able to build further on strong existing customer relationships by providing viable solutions for continuous growth.”



    Looking ahead, Mr Lam said: “Amidst challenging global market conditions, Teejay Group will continue to focus on its journey towards achieving excellence through process alignment and wastage reduction. We remain optimistic that rationalisation of the cost base and continuous focus on operational excellence, product innovation and development, will help deliver sustainable profits.”



    With manufacturing operations in Sri Lanka and India, Teejay is one of the region’s largest textile manufacturers, and supplies fabric to some of the best international brands across the world. Teejay Lanka PLC is a public quoted company with 39 per cent public ownership. The company is backed by Sri Lanka’s largest apparel exporter, Brandix Lanka which has a 33 per cent stake and Pacific Textiles of Hong Kong which owns 28 per cent of the company.



    An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay has been listed on the Colombo Stock Exchange (CSE) since 2011 and was included in the S&P Top 20 Index in Sri Lanka. The Company has also been named among the Forbes ‘200 Best under a Billion in Asia’ and been recognised as the ‘International Textile Firm of the Year’ and the ‘International Dyer and Finisher’ by World Textile Institute, London.

    Leave a comment:


  • SHARK
    replied
    patience is virtue

    Leave a comment:


  • LukeDeSilva
    replied
    I have been waiting @ 28 and below to buy for ever.

    Leave a comment:


  • SHARK
    replied
    tried few days to push up by some, realism sinking in, most probably come to initially 28 support. this is to do with overall pessimism

    Leave a comment:


  • LukeDeSilva
    replied
    Waiting at 25 as advised.

    Leave a comment:


  • SHARK
    replied
    Unless a change in sentiment to the positive, destined to decent much lower technically on the weekly chart. lower time frame are giving mixed signals. could be one more leg down.

    Leave a comment:

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