Hayleys records Rs 5 b PBT
The Hayleys Group recorded an exceptional financial performance in
12/13, despite challenging conditions in its key global markets and
tight macroeconomic policies in the domestic arena.
In a filing to the Colombo Stock Exchange, the blue chip conglomerate
reported a turnover of Rs. 74.3 billion, a 13% growth from the previous
financial year. Its PBT grew to Rs. 5 billion from Rs. 2.6 billion in
2011/12, which was restated in line with SLFRS/LKAS requirements.
Earnings per share of the group rose to Rs. 24.73 from Rs.13.90 in
Chairman and Chief Executive of Hayleys PLC, Mohan Pandithage, said,
"Three of our key sectors, Hand Protection, Purification Products and
Transportation and Logistics all individually surpassed a PBT of Rs. 1
billion, which is truly remarkable."
The other sectors of the Group showed continued improvement. The
Construction Materials sector demonstrated strong growth and the Fibre
sector, following the implementation of a number of strategies to
streamline operational processes, consolidated its turnaround. Losses in
the Textiles sector were curtailed as the company implemented a number
of strategic and leadership changes.
The Group benefited from the exceptional performance of the
Plantations sector while the Agriculture sector posted commendable
results despite adverse climatic conditions. In Leisure and Aviation,
the Amaya Group made a significant contribution to the bottom line while
The Kingsbury Hotel commenced operations in December 2012, after a major
Power and Energy made a strong impact on the Group, with
contributions from Wind Power and Industrial Input segments. However,
the Consumer sector was affected by higher interest rates, lower
consumer spending and a weaker currency.