Business Times

Hayleys reports record 9-month net profit

Hayleys PLC has more than quadrupled net profit and profit attributable to equity holders for the nine months ending 31st December 2011, in a performance that reflects the accelerated momentum of the Blue chip conglomerate in FY 2011-12, the company said this week.

"With strong operational growth in key manufacturing sectors and capital gains being complemented with noteworthy contributions from new areas of business, the Group has reported profit after tax of Rs 3.6 billion at the end of the third quarter," it said in a statement.

Profit attributable to equity holders of the parent company amounted to Rs 2.3 billion on pre-tax profit of Rs 4.3 billion. Turnover for the nine months increased to Rs 46.4 billion, swelled by significant contributions to top line growth by businesses in the Hand Protection, Purification Products, Plantations and Agriculture sectors.

In a statement, Hayleys Chairman Mohan Pandithage said the Group expects to maintain positive results in the fourth quarter of the year ending 31st March 2012. Mr. Pandithage said improved turnover and profit in several sectors in the first nine months of the year, particularly from those in Global Markets and Manufacturing, and substantial capital gains of Rs 2.1 billion from subsidiaries of Hayleys PLC contributed to the results reported.

The Hand Protection sector performed exceptionally well while transportation also made a worthwhile contribution, as did the relatively new Construction Materials sector. Business units within the Leisure and Aviation sector performed well in the period under review. Since its purchase, Amaya Leisure has reported a positive three-month performance. The Ceylon Continental Hotel is undergoing a substantial refurbishment.

The Power and Energy sector posted mixed results, with Industry Inputs performing well.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
 
Other Business Times Articles
State banks face cash crunch
SriLankan invests approx. Rs.150 mln in Mattala
Middle East airlines hit by soaring oil prices
Foreign media ruins Maldives' image as a safe haven for tourists
SEC agrees to some concessions for brokers
Reclaiming the sea
Business Tiems (BT) Poll on rising fuel prices
Comment - Budget bluffing and bank borrowing
CEB, CPC could lose Rs 100 bln this year
Sharp dollar gains, just a temporary phenomenon : CB
Commercial banks should be aware of excessive credit growth
Rupee depreciation follows the ‘Dutch disease’
Household budgets, company costs rise sharply - polls show
EU in Euro 2 mln grant in “Greening Sri Lanka Hotels”
600 vessels fishing illegally in SL at any time : Expert
Lankan tea smallholders facing major crisis
77,000 poor Lankans to get access to sanitation services
Chamber Business Development Consultants Group launched in Vavuniya and Kilinochchi Districts
BASF and Finco promote sustainable construction solutions
Number of Lankan job vacancies fell by 16% in 2010 : Survey
Sri Lanka's first 'green' warehouse launched by Global Park
Many tax queries and concerns raised at top seminar
Richard Pieris group operating profits rise
Prof. Jayasinghe wins "Young Scientist Award for Excellence in Research - 2010"
Bourse moves from despair to hope
Mihin touchdown on low cost routes
MTD Walkers expands into stainless steel fabrication
North-East youth want role in Sri Lanka’s development: WB
Ceylinco directors ordered to work out a new GK re-payment plan
NMK Holdings introduces modern process for the production of copra
Currency fund brings international funding to supplement local sources
Sri Lanka’s forex – a catch-22 situation
Seylan Bank posts best fourth quarter results Rs1 billion net profit for 2011
Losses at Hayleys’ tea unit, Talawakelle Tea Estates
Hayleys reports record 9-month net profit
Chemanex subsidiary Chemcel starts new plant
Hemas to set up more hospitals in key towns
Call for better system of University education
CSE sends Valentine present to stockbrokers

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2012 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution