Fueled by strong growth in its health, consumer and agri-business sectors, diversified Sri Lankan conglomerate Sunshine Holdings (CSE: SUN) reported impressive growth in top and bottom line performances during the first nine months of the current financial year (9MFY18). During this period, the Group posted consolidated revenue of Rs. 15.6 billion, delivering a 23% Year-on-Year (YoY) increase in Profits After Tax (PAT).
Group’s healthcare business emerged as the largest contributor to Sunshine’s top-line performance, accounting for 39% of total revenue, while agribusiness and consumer sectors of the Group contributed 34% and 25% respectively of the total revenue.
Profit after tax (PAT) for the period in review rose to Rs. 1.6 billion, on the back of strong performance in the agri sector, with strong positive results also being carried through to the Group’s Profit After Tax & Minority Interest (PATMI) which grew by 63.8% YoY to Rs 722 million. Watawala Plantation PLC (CSE: WATA) and Hatton Plantations PLC (CSE: HPL), Group’s agribusiness subsidiaries together were the largest contributor to PATMI, accounting for 38% of the total and healthcare accounting for 27%.
"Our continuous focus on improving quality and internal efficiency through well-placed strategies has yielded strong results for the group yet again, transforming another quarter into a successful, highly dynamic one," Sunshine Holdings Group Managing Director, Vish Govindsamy stated. "It is noteworthy to mention that Group’s healthcare arm has been able to post strong results over the last nine months and become the largest contributor to Group revenue, after it grappled significantly due to the implementation of the price controls over 48 molecules during last year. Agri and Consumer sectors have also been able to continue their momentum and contribute significantly as both sectors have reported impressive revenue growth during this period."
Group’s healthcare business emerged as the largest contributor to Sunshine’s top-line performance, accounting for 39% of total revenue, while agribusiness and consumer sectors of the Group contributed 34% and 25% respectively of the total revenue.
Profit after tax (PAT) for the period in review rose to Rs. 1.6 billion, on the back of strong performance in the agri sector, with strong positive results also being carried through to the Group’s Profit After Tax & Minority Interest (PATMI) which grew by 63.8% YoY to Rs 722 million. Watawala Plantation PLC (CSE: WATA) and Hatton Plantations PLC (CSE: HPL), Group’s agribusiness subsidiaries together were the largest contributor to PATMI, accounting for 38% of the total and healthcare accounting for 27%.
"Our continuous focus on improving quality and internal efficiency through well-placed strategies has yielded strong results for the group yet again, transforming another quarter into a successful, highly dynamic one," Sunshine Holdings Group Managing Director, Vish Govindsamy stated. "It is noteworthy to mention that Group’s healthcare arm has been able to post strong results over the last nine months and become the largest contributor to Group revenue, after it grappled significantly due to the implementation of the price controls over 48 molecules during last year. Agri and Consumer sectors have also been able to continue their momentum and contribute significantly as both sectors have reported impressive revenue growth during this period."
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