Hemas records Rs. 1.3b PAT
 Hemas Group recorded a Rs. 1.3b profit after tax whilst the Group
revenue reached Rs. 21.4b recording a 18.5 percent growth. Revenue
growth was driven by Healthcare, Frequently Moving Consumer Goods(FMCG)
and power sectors. While earnings for the first half were down by 17.2
percent, performance bounced back strongly during the third and fourth
quarters to close the year with earnings of Rs. 1,209m.
The FMCG business grew revenue and earnings by 14 percent and 10.7
percent, which was a good result after a difficult first half. The
healthcare sector recorded a revenue growth of 14.8 percent and an
impressive earnings growth of 41.8 percent. The hotels sector closed the
year with revenue of Rs 1.2b and a profit after tax of Rs 94m despite
the half-year closure of Hotel Serendib for refurbishment.
The transportation sector recorded a revenue of Rs 722m, and earnings
of Rs 242m. Although Transportation revenues had declined by 1.7
percent, sector profits increased by 8.2 percent. The power sector
recorded a Rs 4.4b revenue and Rs. 203m earnings. However, earnings were
impacted in the power sector due to extremely low rainfall in the
catchment areas of its hydro power plants. The rapid decline of the
Rupee also affected most of the sectors.
During the year under review, the Group generated operational profits
of Rs. 1.96b, a growth of 7.7 percent, while investing Rs. 1.5b in
projects that will hold the company in good stead in the years to come.
Through these investments, the Group repositioned and re-branded
Hotel Serendib as Avani Resorts.
It commenced development of its third hospital at Talawatugoda and
commissioned another mini hydro plant in Upper Magalganga.
"In the past, the group has been investing in hospitals, hotels and
power, with a long term focus. Over the past five years, Group
investments exceeded Rs. 5b.
Together with the learning experience from our first two hospitals
coupled with our long term positive outlook on the industry we embarked
on our third hospital in Thalawathugoda in early 2012.
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