Hayleys Group posts Rs. 3.7b PAT

Hayleys Group posted a Profit Before Tax of Rs. 5.1 billion in FY 2013-14. The strong bottom line is attributable to commendable performance across a majority of the Group's many diverse sectors.

In a filing to the Colombo Stock Exchange, the blue chip conglomerate reported a revenue growth of 8% from the previous financial year amounting to Rs. 80.5 billion.

The Group's PBT grew to Rs. 5.1 billion while PAT amounted to Rs. 3.7 billion from Rs. 3.5 billion in 2012-13. Earnings per share of the group rose to Rs. 24.11 from Rs. 23.48 in the previous financial period.

Chairman and Chief Executive of Hayleys PLC, Mohan Pandithage said, "This year's operating environment, as always, provided a blend of opportunities and challenges and we have effectively dealt with both, in the spirit of sustainable business, to deliver value to our stakeholders."

Transportation and logistics infused a strong contribution to Group performance with an annual revenue of Rs 11.9 billion and a PBT of Rs. 1.25 billion.

The sector continued to leverage several decades of experience in this industry and set the pace to gear itself to take advantage of opportunities that are arising out of Sri Lanka's move towards becoming a vibrant maritime and aviation hub.

Under the Global Markets and Manufacturing Sector, Purification Products garnered a turnover of Rs. 10.3 billion and posted PBT of Rs.1.03 billion for the second consecutive year.

Despite unrelenting increases in input costs, purification products benefited from volume growth, enhanced efficiencies, new market development and commercialisation of value-added products.

In spite of the many operational challenges, Hand Protection remained resilient in the face of a difficult year, to record a PBT of Rs. 910 million.