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.

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