Sep 02, 2013 (SLBO) - NDB Stockbrokers (NDBS) had recently recommended 'BUY' for Textured Jersey Lanka PLC (TJL). Accordingly company had recorded a 40% growth in profits for FY13/14Q1 predominantly due to increased margins with stable cotton prices and also from a relatively low base in the corresponding quarter last year. Balance sheet remained strong with the gearing level falling below 1%.
In addition, the strong cash balance helped to record a significant growth in finance income. With the 80% payout in FY12/13, the dividend yield stood approximately at 10%.