Hemas posts earnings growth of 68.2 per cent
View(s):Hemas Group said this week that group revenue rose by 22.9 per cent to Rs. 8.8 billion in first quarter 2015/16. Earnings stood at Rs. 415 million. The FMCG sector achieved revenues of Rs. 3.8 billion, up by 33.2 per cent with growth driven by personal wash, personal care, feminine hygiene and home care brands, which experienced a growth in general trade as well as in modern trade channels. “Our efforts in building our own distribution network in Bangladesh helped double the topline growth in that market for the period under review. This growth has fed through to the bottom line with sector earnings up by 35.2 per cent,” the report said.
The pharmaceutical distribution business posted a topline growth of 13.3 per cent despite the challenging industry conditions with the company maintaining its market leadership position with a share of 22 per cent.
The leisure sector experienced slow growth this quarter posting a topline of Rs. 529 million, a marginal increase of 2.7 per cent.
“The performance of the sector continued to be negatively impacted by the depreciation of the Euro contributing to the drop in average room rates (ADR). We continue to make good progress on the construction of the new Anantara properties at Peace Haven, Tangalle and Kalutara and these are now scheduled to open in November 2015 and early 2016, respectively,” the report said.