Strong performance from Hayleys amidst challenging environment
View(s):Hayleys PLC has reported a Profit before Tax (PBT) of Rs. 2.7 billion for the six months ending September 2015, the company said.
The bottom line was supported by strong results from Transportation and Logistics, Agriculture, Purification Products, Leisure, Textiles, Construction Materials and Industrial Inputs sectors, the company statement added.
The Transportation and Logistics Sector contributed a notable increase to the bottom line during the six month period from the previous year as the sector continues to grow its business interest through new business opportunities and increasing existing business lines. Agriculture sector profitability rose significantly from the previous year as it continued to expand its agro base and diversify into new high export potential crops like seaweed.
The Purification Products Sector also posted robust results as local and global demand for purification products continued to rise in the six month period. The Textiles Sector continued its growth momentum after its successful restructuring and re-launch under a new corporate identity “Hayleys Fabric”. The multiple issues faced by the Plantation Sector, including lower prices for commodities in the world market and inclement weather saw the sector incur a loss during the six month period.
Mohan Pandithage, Chairman/CEO of Hayleys PLC stated, “Most of the sectors continue to perform strongly despite a challenging operating environment, indicative of the resilience of the group. We look forward to gaining momentum during the remainder of the year.”