Hayleys PLC posts Rs. 6.8 bln in PBT
View(s):Hayleys PLC on the back of aggressive expansion in its tourism sector has posted a Profit Before Tax (PBT) of Rs. 6.8 billion for the financial year 2015/16, a 7 per cent increase over the previous year. It ended the year with a group turnover of Rs. 92 billion. Hayleys PLC Chairman and Chief Executive was Mohan Pandithage was quoted in a Hayleys media release saying, “Hayleys has focused on the segments with the greatest long-term growth potential and I am extremely pleased to note that all our sectors have shown profitability while we have further strengthened our market leadership in most of the sectors we operate in.”
The Transportation and Logistics sector contributed Rs. 1.5 billion Profit Before Interest and Tax (PBIT) to the group bottom line. The sector has continued to drive new business opportunities and among the noteworthy new ventures is the Hayleys – Free Zone, a state-of-the-art entreport trade facility, including cold storage, which offers businesses the opportunity to value-add and repackage products for export, the release said.
“Agriculture sector PBIT grew to Rs. 1.2 billion from Rs. 1 billion in the last fiscal year. The sector diversified into a number of new business areas during the last two years, which have contributed to growth.”
The release said that the Purification sector contributed over Rs. 1.2 billion in PBIT for the financial year 2015/16. “This sector has also lead the group’s efforts to improve the living and economic conditions of the people in the North and North Central Province suffering from Chronic Kidney Disease (CKD)”. All sectors in the group recorded profits, with strong contributions also arising from Alumex, Leisure, Power and Energy, whilst the Fibre and Textiles sectors continued to demonstrate recovery and stabilisation, the release added.