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Article: SRI LANKA'S BOGAWANTALAWA SAYS LOSSES HIGHER THAN STATED IN INTERIMS.
- Article from:
- AsiaPulse News
- Article date:
- September 10, 2009
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COLOMBO, Sept 10 Asia Pulse - Sri Lanka's Bogawantalawa Tea Estates said its loss for the financial year ended March 31, 2009 was 95 million rupees (US$827,355) higher than previously stated after it wrote down an investment in a subsidiary.
The company said in a stock exchange filing the loss for the 2008/2009 year was 227.9 million rupees, according to audited accounts.
The losses have now been found to be higher because of a write-off in its BPL Teas subsidiary.
It said the unaudited interim financial statements for the period ended March 31, 2009 disseminated to the market on May 29 had originally indicated a loss of 132.9 million rupees.
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