Hayleys posts Rs 2b PAT

Hayleys PLC in a filing to the Colombo Stock Exchange reported healthy growth in 1H of 2014/15.

The Group achieved a revenue growth of 15% amounting to Rs 45.5 billion in 1H, 2014/15; while Profit After Tax (PAT) grew 30% in the second quarter contributing to a PAT of Rs. 2.0 billion in 1H.

Overall growth stemmed from sustained performance growth in key sectors, driven primarily by Hand Protection and Transportation and Logistics sectors.

The Hand Protection sector recorded revenue of Rs. 7.2 billion, up from Rs. 6.9 billion in the corresponding period of the previous financial year.

Contributions from the sector to Group PBT amounted to Rs. 712 million, compared to Rs. 520 million in 1H, 2013-14. Improved performance was supported by an increase in production volume from DPL Premier Gloves Ltd, a new production facility commissioned in the Biyagama Export Processing Zone in Q1 of 2014-15.

Transportation and Logistics continued to demonstrate commendable growth as profitability grew by 19% against 1H of 2013-14. Hayleys Free Zone was commissioned during the quarter at a new facility located within Zone 1 of the Katunayake Export Processing Zone.