Sri Lanka, May 15 -- Sri Lanka's only multinational textile producer Teejay Lanka PLC has ended 2019-20 on an encouragingly strong note,

reported profit before tax of Rs 2.9 billion at Group level for the 12 months ending 31st March 2020, reflecting impressive growth of 29% over the preceding year, a remarkable achievement considering that pre-tax profit for the final quarter was down 24% over the corresponding three months of 2019-20, to Rs 542.1 million.

The Group posted net profit of Rs 2.4 billion for the full year, an improvement of 28%, after paying income tax of Rs 528.7 million, which was up 33% over that of the previous year. Net profit for the quarter ending 31st March 2020, at Rs 421.7 million, reflected a decline of 30%.

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