Hemas Holdings PLC (HHL) reported full year consolidated revenue of Rs.50.9 billion, an increase of 17.2% over last year for the period ended March 31, 2018.
Revenue growth was primarily driven by enhanced performance in our healthcare and mobility sectors.
HHL registered an operating profit of Rs.4.2 billion during FY 18, a 11.3% y-o-y decline together with earnings of Rs.2.7 billion, 23.0% y-o-y decline. The Atlas acquisition and asset disposals indicate a revenue growth of 14.9% while operating profit and earnings remained flat said Group Chief Executive Officer, Steven Enderby.
“We have made significant investments in growing our businesses which have reduced our operating profits for the year. These have included, commencing Home and Personal Care (HPC) operations in West Bengal, India, investments in digital health start-ups, and a major profit improvement project for our home and personal care business. These investments have reduced operating profit by Rs.397.9mn.”
“We acquired Atlas Axillia, Sri Lanka’s leading school and office stationery business, in January 2018.”
As a result, the acquisition has had a negative impact on operating profit of Rs.197 million and on earnings of Rs.295.1million. We have now fully utilized the capital raised in the rights issue.
“We have also had mixed operating performance across the Group with leisure and travel and HPC Bangladesh underperforming, while price controls on pharmaceuticals continues to put pressure on operating margins. “
The consumer sector comprising of home and personal care and school and office sStationery posted a revenue of Rs.17.4 billion during FY 18, indicating a growth of 8.6% over the previous financial year, revenue growth excluding Atlas was 3.6%. Operating profits stood at Rs.1.4billion, 31.3% YoY decline, a 22.7% decline excluding Atlas.
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Revenue growth was primarily driven by enhanced performance in our healthcare and mobility sectors.
HHL registered an operating profit of Rs.4.2 billion during FY 18, a 11.3% y-o-y decline together with earnings of Rs.2.7 billion, 23.0% y-o-y decline. The Atlas acquisition and asset disposals indicate a revenue growth of 14.9% while operating profit and earnings remained flat said Group Chief Executive Officer, Steven Enderby.
“We have made significant investments in growing our businesses which have reduced our operating profits for the year. These have included, commencing Home and Personal Care (HPC) operations in West Bengal, India, investments in digital health start-ups, and a major profit improvement project for our home and personal care business. These investments have reduced operating profit by Rs.397.9mn.”
“We acquired Atlas Axillia, Sri Lanka’s leading school and office stationery business, in January 2018.”
As a result, the acquisition has had a negative impact on operating profit of Rs.197 million and on earnings of Rs.295.1million. We have now fully utilized the capital raised in the rights issue.
“We have also had mixed operating performance across the Group with leisure and travel and HPC Bangladesh underperforming, while price controls on pharmaceuticals continues to put pressure on operating margins. “
The consumer sector comprising of home and personal care and school and office sStationery posted a revenue of Rs.17.4 billion during FY 18, indicating a growth of 8.6% over the previous financial year, revenue growth excluding Atlas was 3.6%. Operating profits stood at Rs.1.4billion, 31.3% YoY decline, a 22.7% decline excluding Atlas.
www.dailynews.lk
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