Hayleys posts Rs 52 b turnover in third quarter
Exceptionally strong growth in the third quarter of 2012-13 has
enhanced Hayleys PLC's nine month performance, enabling the Blue chip
conglomerate to report wholesome revenue and profit gains for the
period.
Turnover for the nine months ending December 31, 2012 improved by a
robust 12 percent to Rs 52 billion, and profit before tax grew 63
percent to Rs 3.6 billion from Rs 2.2 billion before capital gains,
reported in the corresponding period of the previous year.
Net profit for the three quarters was Rs 2.6 billion as against Rs
1.4 billion excluding capital gains, at the end of the third quarter of
2011-12. Hayleys Chairman Mohan Pandithage attributed these results to
strong growth in all core operations and efficient management of cost of
sales. Performance in the December quarter was particularly noteworthy,
with profit before tax growth of 116 percent, he disclosed.
"Despite a weak global economy, our export sectors performed well due
to concerted efforts in product and market development, and streamlined
operations," Pandithage said. "Our manufacturing companies have
continued to innovate and invest in research and development to ensure
sustained demand for our products. As a result, sectors such as Hand
Protection, Purification and Construction Materials have performed
well."
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