Teejay Lanka’s six-month revenue has grown by 111 per cent. Net profit growth for the period has been 145 per cent.For the second quarter Teejay Lanka’s revenue growth was 95 per cent and profit after tax increased by 70 per cent. A doubling of synthetic fabric volumes, higher selling prices and the impacts of the depreciation of the currency have enabled strong growth for Sri Lanka’s first multinational textile producer. However second quarter price hikes in raw materials, freight and energy have also increased the cost of sales for Teejay by 96 per cent.

The group has just expanded capacity and is confident of being able to maintain its momentum by capitalising on newly emerging market segments and its synthetic fabric drive. Teejay Lanka has achieved growth by focusing on its athleisure lines, synthetic orders, new customer segments and Asian markets and will continue to explore opportunities for growth by discovering new business and is evaluating the potential for capturing new international markets, going forward.

Teejay Lanka was the first textile manufacturer in Sri Lanka to receive membership of the US Cotton Trust Protocol. The company is backed by Sri Lanka’s largest apparel exporter Brandix Lanka, which has a 32 per cent stake.