Ceylon Glass declares its half yearly results for FY 2008.  Sales up by 15% to SLR 973 million, Profit after Tax up by 22% to SLR 88 million.

Ceylon Glass Company Limited (CGC) today reported its un-audited results for the quarter ended 30th Sep 2007.

Sales during the half year period were SLR 973 million, a growth of 15% compared to Sales of SLR 846 million in same period previous year.  During this period Operating Profit grew by 24% to SLR 148 million as against 119miilion.  Profit before tax too increased to SLR 126 million, which represents a growth of 20% over 1st half of previous year.

The Company’s performance in the 2nd Quarter ended 30th Sep 07 in its own showed a growth  of 20% in sales. The profit after tax in the 2nd Qtr grew by  29%  as against the corresponding Qtr 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.    Colour wine & liquor bottle sales to India have been a main contributor to this achievement.  It is encouraging to note that the Export growth in the 1st 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 3rd quarter of the current financial year 2007/08.  With this project, the Company’s current manufacturing capacity would be more than doubled.