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Soaring rubber prices, unfavourable exchange rate bleed Samson Intl to Rs. 56 m loss

Sep 18, 2011 2:30:36 PM - www.ft.lk

An unprecedented rise in rubber prices and unfavourable exchange rate have caused Samson International Plc to suffer a Rs. 56 million loss, its biggest, in the financial year ended on 31 March 2011.
The negative bottom line, for the second consecutive year, is despite a record turnover of Rs. 716 million and the company doing its best to improve productivity and efficiency.
Samson International, part of the iconic DSI Group, specialises in the manufacturing and export of unhardened vulcanised rubber products, for household and medical markets.
The company’s turnover rose by 22% from Rs. 588 million in FY2010 to Rs. 716 million in FY11.