Sri Lanka, Jan. 27 -- Bairaha Farms PLC reported losses for the quarter ended December 31, 2019 as cost of sales rose while revenue slipped from a year earlier, impacting the bottom line of the country's leading poultry producer.
Sri Lanka's poultry industry has long been experiencing a supply shortage due to the so-called corn mafia operating in the procurement of maize, a key component of poultry feed.
Adding to the woes were the slowdown in the economy, which eroded disposable incomes, and the Easter Sunday attacks that dealt a crippling blow to the country's booming tourism sector.
According to the interim financial accounts filed with the Colombo Stock Exchange (CSE) last week, Bairaha Farms reported negative earnings of 5 cents ...