Sunshine Holdings PLC (CSE: SUN) reported PATof LKR 326m for thequarter ending 30 June 2014 (1QFY15), up 161.0% YoY compared to LKR125m in the same quarter last year. Reported top line stood at LKR4.0bn in 1QFY15, compared to LKR 3.5bn in 1QFY14, up 14.7% YoY. EPS was LKR1. 03 for 1 QFY 15, up 110.5% YoY.
EBIT margin saw a significant improvement in 1QFY 15, up to 10.9% against 6.0% in the same quarter last year. The growth in both revenue and profitability mainly stems from the group’s Agri sector, especially due to the improvement in its tea plantations. Profit to equity holders (PATMI)is up111.3% YoY to LKR 138m in 1QFY 15, and PAT grew 161.0% YoY. Majority of the growth in PAT is on account of the strong performance of the Agri sector which has a limited impact at the PATMI level due to low effective holding. But Vish Govindasamy, Group Managing Director of SUN, emphasized that the Healthcare sector is still the largest contributor to PAT in 1QFY15 with LKR74m, which represents 53.9% of total PATMI.
This represents 35.5% of total group revenue. Growth in Healthcare revenue is similar to what was seen during FY14, and the healthcare sector in Sri Lanka (Pharma), which only grew 2.1% YoY for FY14,as reported by IMS.
PAT for the quarter amounted to LKR231m in 1QFY15, against LKR 11m in the same quarter last year. The growth in PAT, which is close to 20x is attributed to the profitability of the tea segment which benefited from favorable weather conditions, and buoyant market prices for its teas. It should be noted that 1QFY 14 was an exceptionally poor quarter for WATA due to the impact of heavy rains and floods, in a wage impact year.
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EBIT margin saw a significant improvement in 1QFY 15, up to 10.9% against 6.0% in the same quarter last year. The growth in both revenue and profitability mainly stems from the group’s Agri sector, especially due to the improvement in its tea plantations. Profit to equity holders (PATMI)is up111.3% YoY to LKR 138m in 1QFY 15, and PAT grew 161.0% YoY. Majority of the growth in PAT is on account of the strong performance of the Agri sector which has a limited impact at the PATMI level due to low effective holding. But Vish Govindasamy, Group Managing Director of SUN, emphasized that the Healthcare sector is still the largest contributor to PAT in 1QFY15 with LKR74m, which represents 53.9% of total PATMI.
This represents 35.5% of total group revenue. Growth in Healthcare revenue is similar to what was seen during FY14, and the healthcare sector in Sri Lanka (Pharma), which only grew 2.1% YoY for FY14,as reported by IMS.
PAT for the quarter amounted to LKR231m in 1QFY15, against LKR 11m in the same quarter last year. The growth in PAT, which is close to 20x is attributed to the profitability of the tea segment which benefited from favorable weather conditions, and buoyant market prices for its teas. It should be noted that 1QFY 14 was an exceptionally poor quarter for WATA due to the impact of heavy rains and floods, in a wage impact year.
www.island.lk
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