Positive growth momentum in Hayleys extends into Q3
View(s):Hayleys PLC says its Q3 2014/2015 results were strong, reporting consolidated group revenue in the third quarter up by 12 per cent to Rs. 22.98 billion.
Revenue for the nine months ending December 2014 rose by 14 per cent to Rs. 64.48 billion, according to a company statement
The Hand Protection sector recorded an increased PBT (Profit Before Tax) of 68 per cent in the nine months to December, recovering strongly from challenging circumstances in the previous year.
The Transportation and Logistics sector continued robust growth momentum, with PBT increasing 28 per cent year on year. Sector revenue increased to Rs. 10.5 billion for the nine month period, a 16 per cent growth year on year, the release said.
“The Purification Products sector was adversely affected by continued high prices of its key raw material and adverse currency movements in exports markets in the Euro zone, Australia and Japan. Productivity improvements and lean manufacturing initiatives helped offset some of these negative developments. The Agriculture sector bounced back in the third quarter after unfavourable weather conditions in the first half of the year. The Textiles sector and Fibre sector continued on a path of recovery. The Textile sector, represented by Hayleys MGT PLC, has implemented a series of reforms to improve its productivity and generate new innovations that will set the pace for future growth. Sector revenue rose to Rs. 6.5 billion, up 10 per cent year on year. The Fibre sector saw PBIT growing over two fold in the 9 month period, compared to the previous year,” it said.