ECONOMYNEXT – Profits at Sri Lanka based Teejay Lanka which also has factories in India, said global market conditions were “challenging” and demand was “subdued”, as revenues fell and profits plunged 80 percent to 149.8 million rupees amid Trump tariffs. Falling demand left capacity underutilized, amid pricing pressure, the firm said. “Looking ahead, the Group remains attentive to potential shifts in the global trade environment, including the United States Harmonized Tariff Schedule (HTS) developments, which may have implications for both direct and indirect exports from Sri Lanka and India,” Teejay Lanka told shareholders in interim accounts. “Teejay Lanka PLC will…
Sri Lanka-based fabric maker profits, revenues plunge as global demand falls
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