|
|
 |
 |
 |
| Tuesday, 6 July 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Turnover up 17% to Rs. 100 million: Durdans consolidated profit before tax increases to Rs. 75 million
Ceylon Hospitals Limited (CHL), the owning company of Durdans Hospital and its subsidiary Durdans Heart Surgical Centre (Pvt) Limited recorded a satisfactory performance, achieving a consolidated turnover of Rs. 696 million for the year ended March 31, 2004. This increase in turnover of nearly Rs. 100 million over last year at a rate of 17% and maintaining similar progress in its consolidated profit before tax of Rs. 75 million, which is a 13% increase, described by Chairman Ajith Tudawe as satisfactory financial performance. Durdans also announced a 14% final dividend for the financial year, eight months after a successful IPO in October last year. Net profit for the year after taxation was Rs. 72.352 million, while earnings per share amounted to Rs. 4.56. "The main contributory factor to this performance can be attributed to the reduction of interest outlay for the last four months of the accounting period," he said. We put in place organisational change, and remodelling of the capital structure which saw costs decrease by Rs. 11 million, representing a 37% decline from the previous year and the adoption of careful work-study methods and techniques. And given the nature of our business, which is primarily a service-oriented one based on human relations, we also placed emphasis on developing our human capital," he said. The hospital has maintained a 98% average occupancy level. The Durdans-Escorts Heart Centre, an affiliation of Escorts Heart Institute and Research Centre in India has also proved its value. "To achieve our long-term vision, we are in the process of implementing a three-tier restructuring and expansion plan. Tudawe also said our valued business partners or the community around us, to voluntarily integrate social and environmental concerns into every day operations. "We were the first hospital in the country to initiate Doctor-Patient fora to create a support structure for postoperative patients, a facet that has been lacking in healthcare services. We have been in the forefront of taking healthcare to the very doorstep of the community through our Community Outreach Programs, in addition to giving flood relief to victims in severely affected areas. The series of Community Outreach Programs implemented in many parts of the country included free clinics for the community. These clinics host the screening of patients, laboratory tests, educational awareness workshops on cardiac related diseases and Q&A fora with the participants. Durdans Hospital also became the first healthcare institution in Sri Lanka to implement an Enterprise Resource Planning (ERP) system, ingratiating novel productive re-modifications to boost information processing capacity, which saw a revised budgeted expenditure on this project amounting to Rs. 32 million. "I believe this investment is one of the most judicious decisions made during the last two years because ERP will continue to be the information backbone we rely on to enhance the quality of strategic, tactical and operational decisions we make throughout our organisation, which in turn will improve the quality of service we impart to the community." An ERP is a software solution that address the enterprise needs taking the process view of an organisation. It facilitates company-wide integrated Information Systems covering all functional areas. It also performs core corporate activities and increases customer services, augmenting the corporate image. The Company intends to implement the ERP system fully by April 2005. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
