Lubricants to boost performance of Sri Lanka's Bogala Graphite

Sri Lanka’s listed graphite miner and exporter Bogala Graphite said support from its German parent firm and manufacture of new lubricant products should help it recover from losses last year. The company, a subsidiary of Graphit Krophmuhl AG of Germany, has seen a slight increase in orders in the last quarter of 2009 which heralds a turnaround, Chairman Vijaya Malalasekera said. Losses in the financial year ending December 31, 2009 rose to 127.7 million rupees (US$1.12 million) from a loss of 100 million rupees (US$877,426.46) in 2008. The loss per share was 2.70 rupees (US$0.02) in 2009. (April 12, 2010)