Hayleys Group revenue up 17% to Rs 22.6 billion

Hayleys PLC in a filing to the Colombo Stock Exchange, reported sustained performance in 1Q of 2014-15.

The Group achieved a revenue growth of 17% amounting to Rs. 22.6 billion in value terms. All sectors in the Group maintained positive operating profits.

The Purification Sector reported a turnover of Rs. 2.4 billion and PBIT of Rs. 157.7million for 1Q 2014/15. The sector's operations faced significant challenges during the first quarter of the year, as raw material prices increased approximately 20% compared to the previous year.

The Hand Protection sector demonstrated commendable recovery from a constrained operating environment in the previous financial year. The sector reported a turnover of Rs. 3.4 billion and PBIT of Rs. 331.7 million for 1Q, 2014-15.

The sector commissioned commercial operations of a new manufacturing facility, DPL Premier Gloves Ltd. The Group's Fibre and Textile sectors which demonstrated strained performance in recent years, showed positive growth in 1Q, 2014-15, as restructuring initiatives in each of the sectors yielded results.