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Ceylon Glass sales up by 15 per cent

Ceylon Glass Co-mpany sales went up by 15 percent to 973 million and the pProfit after tax was up by 22 percent to Rs 88 million according to the Ceylon Glass Company Limited (CGC), un-audited results for the quarter ended 30th Sep 2007.

Sales during the half-year period were Rs 973 million, a growth of 15 percent compared to Sales of Rs. 846 million in same period the previous year. During this period Operating Profit grew by 24 per cent to Rs. 148 million as against 119 million. Profit before tax too increased to Rs. 126 million, which represents a growth of 20% over first half of previous year.

The company’s performance in the second quarter ended 30 September in its own showed a growth of 20% in sales. The profit after tax in the second quarter grew by 29% as against the corresponding quarter in the previous year.

CGC has seen a continuous growth in its Export Sales over the past few years. In the first half of the current financial year CGC’s export sales are over 10% of the total sales, as against 5% in the whole of previous financial year 2006/07.

Color wine and liquor bottle sales to India have been a main contributor to this achievement. It is encouraging to note that the Export growth in the first half of the current financial year is more than 290% as compared to 108% during the corresponding period of the previous year.

The company’s up coming project under 300-factory programme at Horana would be completed in the third quarter of the current financial year 2007/08. The Company’s current manufacturing capacity would be more than doubled.

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