Teejay Lanka expands operations to Egypt

Teejay Lanka PLC, Sri Lanka’s first multinational textile manufacturer, announced the expansion of its business into the Arab Republic of Egypt. 

A new entity was incorporated in Egypt on November 19, 2024, aimed at engaging in fabric manufacturing, manufacturing services and trading activities, the company said in a disclosure to the Colombo Stock Exchange.

For the first half of the financial year ending September 30, 2024, the Teejay group reported a profit after tax of Rs.0.9 billion, marking a positive performance. The group’s revenue reached Rs.32.7 billion, an 11 percent increase compared to the same period last year.

Teejay operates manufacturing facilities in Sri Lanka and India, alongside a state-of-the-art printing facility in Sri Lanka.