Achieving its highest-ever Group Revenue and Earnings Per Share (EPS) for a single quarter, diversified conglomerate Sunshine Holdings PLC has concluded the first quarter of its 2017 Financial Year (1Q 2016/17) on a high note.
For the quarter ended June 30, 2016 Sunshine Holdings boosted Profit After Tax (PAT) by a significant 30% year-on-year (YoY) to Rs. 408 million and increased Group revenue by 11% YoY to Rs. 4.6 billion.
The Group also improved Profit to Equity Holders by an impressive 27% YoY to Rs. 207 million, as well as its earnings per Share (EPS) by 27% YoY to Rs. 1.53.
The five sectors in which the diversified conglomerate operate are; Healthcare (Sunshine Healthcare Lanka Ltd. and Healthguard Ltd.), FMCG (Watawala Tea Ceylon Ltd.), Agribusiness (Watawala Plantations PLC), Packaging (Sunshine Packaging Ltd.) and Renewable Energy (Sunshine Energy Ltd.).
“This strong performance amidst economic and business volatility and challenges – especially in Agribusiness – reflects the solid fundamentals of Sunshine Holdings and its business units,” Group Managing Director (GMD) – Vish Govindasamy said. “The high growth trajectory of Sunshine Holdings is evident in the Group achieving its highest-ever Group revenue and EPS for a single quarter during the concluded financial period. With the expansion efforts and strategic initiatives which are underway, the Group is well poised for further growth acceleration in the medium to long term.”
Healthcare, the largest sector of the Group, which accounted for 42.4% of Group turnover for 1Q 2016/17, increased its revenue by 18% YoY. As a result of having to absorb exchange rate fluctuations (due to price controls on pharmaceuticals) Healthcare PAT however was down 6.1% YoY in 1Q 2016/17.
The FMCG sector revenue grew 14.4% YoY, with continued growth in the domestic market in which its brands – Zesta, Watawala Tea and Ran Kahata – collectively have over 35% market share. PAT however was adversely affected by pickup in tea prices and the cost of rollout of ‘Zesta Connoisseur’ to Shangri-La properties worldwide.
www.dailynews.lk
For the quarter ended June 30, 2016 Sunshine Holdings boosted Profit After Tax (PAT) by a significant 30% year-on-year (YoY) to Rs. 408 million and increased Group revenue by 11% YoY to Rs. 4.6 billion.
The Group also improved Profit to Equity Holders by an impressive 27% YoY to Rs. 207 million, as well as its earnings per Share (EPS) by 27% YoY to Rs. 1.53.
The five sectors in which the diversified conglomerate operate are; Healthcare (Sunshine Healthcare Lanka Ltd. and Healthguard Ltd.), FMCG (Watawala Tea Ceylon Ltd.), Agribusiness (Watawala Plantations PLC), Packaging (Sunshine Packaging Ltd.) and Renewable Energy (Sunshine Energy Ltd.).
“This strong performance amidst economic and business volatility and challenges – especially in Agribusiness – reflects the solid fundamentals of Sunshine Holdings and its business units,” Group Managing Director (GMD) – Vish Govindasamy said. “The high growth trajectory of Sunshine Holdings is evident in the Group achieving its highest-ever Group revenue and EPS for a single quarter during the concluded financial period. With the expansion efforts and strategic initiatives which are underway, the Group is well poised for further growth acceleration in the medium to long term.”
Healthcare, the largest sector of the Group, which accounted for 42.4% of Group turnover for 1Q 2016/17, increased its revenue by 18% YoY. As a result of having to absorb exchange rate fluctuations (due to price controls on pharmaceuticals) Healthcare PAT however was down 6.1% YoY in 1Q 2016/17.
The FMCG sector revenue grew 14.4% YoY, with continued growth in the domestic market in which its brands – Zesta, Watawala Tea and Ran Kahata – collectively have over 35% market share. PAT however was adversely affected by pickup in tea prices and the cost of rollout of ‘Zesta Connoisseur’ to Shangri-La properties worldwide.
www.dailynews.lk
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