Aug 27, Colombo: Ceylon Glass Company PLC has incurred a loss of Rs. 120 million during the first quarter of 2008.

According to company sources, the major reasons contributing to the loss were soaring energy costs, rising Soda Ash prices and other domestic raw material, as well as and the increasing costs of packing material.

However, during the period in focus, company has reported a sales value of Rs. 679 million against Rs. 469 million in the corresponding quarter of the previous year. This reflects an impressive overall growth of 44% over the corresponding quarter of the previous year.