Haycarb’s nine month Sales Rs 5.9 billion
Haycarb PLC has reported a revenue growth of 25 per cent to Rs 5.9
billion for the nine months ending 31st December 2011, with stable
demand for the Company’s product portfolio supported by improvements in
the global marketing, manufacturing and supply chain activities.
In the results filed with the Colombo Stock exchange, the Hayleys
Group’s top notch activated carbon and solutions business reported a
profit before tax of Rs 535 million and a Profit after tax of Rs 441
million for the 3rd quarter ended Dec 31st, 2011.
Significant investments in working capital to build up its charcoal
inventory that helped to stabilize charcoal prices and improvements in
manufacturing efficiencies along with improved prices in the product
portfolio, enabled Haycarb PLC to improve margins in the third quarter
of 2011-12.
Haycarb Managing Director, Rajitha Kariyawasan said the consolidated
profit figures for the nine months reflected a substantially improved
position over that of the first six months of the year.
“Demand for our products remain strong despite the negative outlook
in a number of key international markets, especially in Europe,” he
said, disclosing that investments in capital expenditure in the current
year to expand internal capacities, upgrade manufacturing plants and the
continuation of the Company’s emphasis on value addition had helped top
line growth and also contributed to improved margins.
Meanwhile, investments in building up inventories of coconut shell
charcoal have resulted in greater stability in the supply and prices of
Haycarb’s principal raw material, enabling the company to reduce
volatility in product prices and run all its factories in Sri Lanka and
overseas at full capacity,Kariyawasan said.
One of the highlights of the period reviewed was the upgrading of
Haycarb’s information system to SAP Enterprise Resource Planning (ERP)
system.
The implementation of SAP was completed in nine months, yet another
creditable achievement by the Haycarb team, fulfilling a long-felt need
for a better integrated information system to support existing business
and future growth, Kariyawasan said.
The pioneer manufacturer of activated carbon in any coconut producing
country, Haycarb is also the world’s largest producer of coconut
shell-based activated carbon. The Group, whose manufacturing facilities
in Sri Lanka, Thailand and Indonesia are supported by marketing offices
in the UK, Australia and USA, produces standard, washed and impregnated
carbons in granular, pellet and powder form.
The Board of Directors of Haycarb PLC comprises Chairman, A. M.
Pandithage – Managing Director,H. S. R. Kariyawasan - R. P. Peris, R.
Seevaratnam, A. M. Senaratna, K. D. D. Perera, S. C. Ganegoda, Mrs. M.
J. A. S. Abeyratne, D. E. Ranaraja, W. D. N. H. Perera and Dr. S. A. K.
Abayawardana.
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