ECONOMYNEXT – Sri Lanka’s Hayleys group said net profit fell 8% to Rs1.3 billion in the March 2017 quarter from a year ago.
Sales of the group, whose core businesses span transportation, purification, agriculture, construction materials and power rose19% to Rs29.2 billion, a stock exchange filing said.
The accounts showed finance costs rose 74% to just over a billion rupees in the March 2017 quarter.
Quarterly earnings per share were Rs17.63. The company’s share was last traded at Rs293.90.
“Over the final quarter of the year, the group’s performance received a strong boost, particularly from its agriculture, construction and transport segments, to finally register turnover growth of 19% year-on-year, up to Rs. 29.2 billion,” a statement said.
“Results from operating activities rose to Rs. 3.52 billion, reflecting 24% YoY growth. Similarly, profit before tax (PBT) for the final quarter rose by 9% YoY to Rs. 2.96 billion.”
The accounts showed EPS fell to Rs37.12 in the financial year ending 31 March 2017 from the year before with annual net profit down 11% to Rs2.8 billion while sales rose 21% to Rs111.4 billion.
The Hayleys statement said sales were supported by strong performances across the group’s core businesses.
“This led to a substantial 14% YoY improvement on the group’s results from operating activities, which closed the year at Rs. 9.67 billion,” it said.
“Moving forward we will continue to consolidate our operations with a view to further strengthening overall profitability while also exploring opportunities to expand growth within our current business segments.” Hayleys chairman and chief executive, Mohan Pandithage said.
All of the group’s top five performing sectors posted pre-tax profits in excess of Rs. 1 billion.
Transportation and Logistics recorded a PBT of Rs. 1.79 billion, Purification Products posted a PBT of Rs. 1.18 billion, and the Group’s Agriculture segment achieved a PBT of Rs. 1.1 billion.
The group’s Power and Energy sector achieved a PBT of Rs. 1.02 billion whilst commissioning one of Sri Lanka’s largest Solar Power plant of 10MW during the year, Hayleys said.
The Construction Materials segment posted a PBT of Rs. 1.02 billion during the period under review.
Sales of the group, whose core businesses span transportation, purification, agriculture, construction materials and power rose19% to Rs29.2 billion, a stock exchange filing said.
The accounts showed finance costs rose 74% to just over a billion rupees in the March 2017 quarter.
Quarterly earnings per share were Rs17.63. The company’s share was last traded at Rs293.90.
“Over the final quarter of the year, the group’s performance received a strong boost, particularly from its agriculture, construction and transport segments, to finally register turnover growth of 19% year-on-year, up to Rs. 29.2 billion,” a statement said.
“Results from operating activities rose to Rs. 3.52 billion, reflecting 24% YoY growth. Similarly, profit before tax (PBT) for the final quarter rose by 9% YoY to Rs. 2.96 billion.”
The accounts showed EPS fell to Rs37.12 in the financial year ending 31 March 2017 from the year before with annual net profit down 11% to Rs2.8 billion while sales rose 21% to Rs111.4 billion.
The Hayleys statement said sales were supported by strong performances across the group’s core businesses.
“This led to a substantial 14% YoY improvement on the group’s results from operating activities, which closed the year at Rs. 9.67 billion,” it said.
“Moving forward we will continue to consolidate our operations with a view to further strengthening overall profitability while also exploring opportunities to expand growth within our current business segments.” Hayleys chairman and chief executive, Mohan Pandithage said.
All of the group’s top five performing sectors posted pre-tax profits in excess of Rs. 1 billion.
Transportation and Logistics recorded a PBT of Rs. 1.79 billion, Purification Products posted a PBT of Rs. 1.18 billion, and the Group’s Agriculture segment achieved a PBT of Rs. 1.1 billion.
The group’s Power and Energy sector achieved a PBT of Rs. 1.02 billion whilst commissioning one of Sri Lanka’s largest Solar Power plant of 10MW during the year, Hayleys said.
The Construction Materials segment posted a PBT of Rs. 1.02 billion during the period under review.
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