BATA GLOOM
June 1st, 2002
BY SWINEETHA DIAS WICKRAMANAYAKA, in Columbo
THE BATA Shoe Company of Ceylon Ltd is continuing to make financial losses recording a loss of SLRupees 28.6 million (US$300,000) for the first quarter ended March 31, 2002, up from a loss of SLRupees 24.3 million (US$250,000) in the comparative period the previous year. Operating losses during the first quarter were smaller at SLRupees 12.2 million (US$130,000), down from SLRupees 13.4 million (US$140,000) a year earlier, but spiralling finance costs have dragged the company further into the red.
THE BATA Shoe Company of Ceylon Ltd is continuing to make financial losses recording a loss of SLRupees 28.6 million (US$300,000) for the first quarter ended March 31, 2002, up from a loss of SLRupees 24.3 million (US$250,000) in the comparative period the previous year. Operating losses during the first quarter were smaller at SLRupees 12.2 million (US$130,000), down from SLRupees 13.4 million (US$140,000) a year earlier, but spiralling finance costs have dragged the company further into the red.
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.