Improved performance by local manufacturing operations and consistent growth at overseas production facilities contributed to healthy revenue and profit growth at Haycarb PLC for the nine months ending 31 December 2009.
A press release from Haycarb, the world’s leading activated carbon business of the Hayleys Group, reported a net profit increase of 142% to Rs.428 million. The profit attributable to equity holders of the company stood at Rs.393 million which reflected nearly a three-fold increase over the figure for the corresponding period in 2008.
According to the press release, profit before tax grew by 128% to Rs.514 for the period under review while turnover was up by 9% to Rs.3.7 billion. Basic earnings per share for the period stood at Rs.13.23, an improvement of 176% over the Rs.4.79 achievd at the end of the third quarter of 2008-09.
Haycarb Managing Director Ananda Hettiarachchy said the Group’s continued focus on value added products that command better prices in international markets was one of the principal contributors to its strong performance.
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