Friday, July 29, 2016

TJ Records ninety three p.c growth Year on Year profit of Rs. 399 Million, Best half-moon thus far

The TJL cluster (TJ), United Nations agency closed the last yr on a convincing note, continuing its performance momentum within the new yr, coverage eight straight quarters of sturdy quarterly profit growth. The Q1 2016/17 performance has evidenced to be the Group’s best half-moon recorded thus far, posting a consolidated profit of Rs. 399 Million, representing a YoY growth of ninety three p.c.

The cluster has created important progress in growing their product portfolio despite difficult market conditions last year. Chairman of the cluster, Bill Lam aforesaid, that though the corporate has shown large resilience and commitment in following new opportunities, investment their regional footing, the longer term of the textile business is certain to become tougher. “Our customers’ demand for low priced and innovative merchandise, discounts and speed of service is increasing and this can be true for the whole textile business. we have a tendency to acknowledge the requirement to stay reinventing the wheel, with new technology and automation that includes in our reengineering method to come back up with newer and value effective ways that to fulfill the demand.”

TJ recorded a seventy three p.c topline YoY growth and a fair a lot of spectacular one hundred twenty five p.c net income growth. This was a right away results of consolidation, strategic overhead management ANd an output increase from dynamic a number of its operating models. This at the side of the immensely improved production efficiencies all spherical, contributed towards the topline growth and translated it to a formidable profit of Rs. 399 Million; a YoY growth of ninety three p.c. The Coal plant continues to support the assembly engine providing further leverage to the Group’s core operational margin enhancements. The tax saw a rise of 365 p.c for the cluster principally generated by the consolidation of the postponed tax liabilities of the 2 noninheritable entities.

TJ’s income disciplines helped maintain a powerful record from the beginning of the year, optimizing capital and remaining unleveraged with a web money surplus of Rs. 3.1 Billion. The consolidated Earnings per Share was Rs. 0.57, showing a growth of eighty three percent; whereas the standalone Earnings per Share of Rs. 0.41 recorded a growth of forty-one p.c. TJL’s standalone performance throughout the amount beneath review has been spectacular with a profit of Rs. 286 Million, representing a YoY growth of fifty two p.c. TJL’s bottom-line grew despite the loss of financial gain thanks to the non-renewal of its operational technical service agreement with OCI. The standalone prime line growth was thirty p.c, yielding Rs three.5 Billion, whereas gross profits grew by fifty eight p.c. The Group’s performance growth methods are applied to TJL with equal rigor, transportation its profit to a YoY growth of fifty two p.c, at Rs. 286 million.

Sriyan First State sylva Wijeyeratne, MD/CEO of TJ aforesaid that it absolutely was satisfying to envision the Synergies of the strategic acquisitions the corporate has created bear fruit. “The entire cluster structure has seasoned positive modification, and also the team has embraced the changes with passion and dedication that could be a main a part of our success. it's that terribly commitment that won US the most effective skilled worker & Finisher of the Year title for the 2d year running at the distinguished ‘World Textile Awards.’ except our individuals, we've got invested with in innovative technology, seeking broader solutions and honing our innovation capabilities, so we have a tendency to provide of our greatest to the client,” he aforesaid adding that in operation in AN progressively competitive business, each globally and regionally, presents challenges that continues to check TJ’s resilience, perpetually driving the corporate to attain excellence.

Chairman Bill Lam says because the cluster embarks on its new yr it's already begun the groundwork for long vary growth plans, commencing work for its future expansions in Bharat, and setting the inspiration for broadening its Printing and artificial solutions. “Whilst the roadmap to increasing growth and shareowner price are charted out and area unit current, we have a tendency to area unit aware of the dynamic international area and also the economic challenges it presents,” he says adding that forward thinking, timely innovation, new synergies and a committed team were imperative to keep up the Group’s lead position within the future.


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