Hayleys records PBT of Rs. 5.1 bln in 2013/14
View(s):Sri Lanka’s Hayleys Group has posted Profit Before Tax (PBT) of Rs. 5.1 billion in FY 2013/14 that was attributed to the organisation’s “strong bottom line” in the diversified entity.
In a filing to the Colombo Stock Exchange this week, the blue chip conglomerate reported a revenue growth of 8 per cent from the previous financial year amounting in value terms to Rs. 80.5 billion. The group’s PBT grew to Rs. 5.1 billion whilst Profit After Tax (PAT) amounted to Rs. 3.7 billion from Rs. 3.5 billion in 2012-13. Earnings per share of the group rose to Rs. 24.11 from Rs.23.48 in the previous financial period, it was stated.
Speaking on the performance of the Group, Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC noted “this year’s operating environment, as always, provided a blend of opportunities and challenges and I believe we have effectively dealt with both, in the spirit of sustainable business, to deliver value to all our stakeholders.”
Transportation and Logistics infused a strong contribution to Group performance with an annual revenue of Rs 11.9 billion and a PBT of Rs. Rs.1.25 billion, the group noted.
Under the Global Markets and Manufacturing Sector, Purification Products garnered a turnover of Rs. 10.3 billion and for the second consecutive year posted PBT of Rs.1.03 billion, it was stated.
Hand Protection remained resilient in the face of a difficult year, to record a PBT of Rs. 910 million. Construction Materials sector recorded PBT of Rs.464 million, and during the reporting period Alumex Ltd was listed on the Colombo Stock Exchange, in an Initial Public Offer, to become the 11th listed company within the Hayleys Group.
Agriculture and Plantations demonstrated sound returns despite escalating industry costs. Plantations recorded PBT of Rs. 704 million in spite of absorbing a wage increase during the year. Agriculture posted a PBT of Rs. 639 million during the year, the group noted.
Leisure and Aviation witnessed positive outcomes with the sector reporting PBT of Rs. 538 million, with strong contributions from the resorts segment under the Amaya brand and the group’s flagship city hotel, The Kingsbury.
The Power and Energy sector further entrenched itself as an increasingly significant contributor to renewable power generation in Sri Lanka. Performance-wise, Power and Energy recorded a PBT of Rs. 769 million up from Rs. 494 million in 2012-13.
Speaking on the conglomerate’s future outlook, Mr. Pandithage noted in the release that, “the diversity of the group has assisted Hayleys to cushion the challenges of the operating environment. Going forward, we will continue to place emphasis and focus on the core growth areas whilst driving growth to enhance the scope of our operations across all sectors.”