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DateLine Wednesday, 13 June 2007

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Hemas’ overall sales exceeding 20 percent



Husein Esufally

GROWTH IN SALES: Overall sales of Hemas Holdings grew by 20.4 per cent and profit before tax by 12.8 per cent during the last financial year.

During the period under review the company crossed the billion rupee milestone, with profit attributable to the Group closing at Rs 1006 million, a growth of 4.9 per cent over last year.

“Group revenues increased to close the year at Rs 11.8 billion, which is a growth of 20.4 per cent over the previous year. The largest sector, Fast Moving Consumer Goods (FMCG) performed well, registering a turnover of Rs 3.8 billion, which is a growth of 20.5 per cent over the previous year,” Director and Chief Executive Officer, Husein Esufally said.

He also said during the year, the sector continued to build on its diversification strategy with the Homecare and Foods division recording an impressive growth off a low base. The sector has identified internationalisation of Personal Care products as an effective way of leveraging in-depth consumer understanding and brand strengths.

“The healthcare sector posted a top line growth of 16.0 per cent and a bottom line growth of 3.0 per cent for the year under review, closing at a turn over of Rs 2.9 billion and profits of Rs 141 million.

The sector predominantly comprises of pharmaceuticals distribution, which is the oldest in Hemas group. Hemas continued to be the market leader in private sector pharmaceutical distribution enjoying a market share of 14.3 per cent,” Esufally said.

He pointed out that Hemas progressed closer towards its healthcare sector vision by entering the hospital industry. “ The first hospital of Hemas group will be located in Wattala. This is the outcome of our strategic alliance with Columbia Asia, a regional hospital operator. This 100-bed multi specialty secondary care facility is expected to commence operations in mid 2008,” Esufally explained.

He added that the leisure sector experienced a volatile year recording turn over and profits of Rs 864 million and Rs 43 million respectively.

“The transportation sector turnover grew by 21.4 percent over the year to close at Rs 507 million while sector profits declined by 22.3 percent to Rs 102 million. The Heladhanavi Power plant successfully completed two years of commercial operations to date. For the year under review, Heladhanavi contributed Rs 303 million to the Hemas bottom-line while generating 664 million units of electricity to the national grid,” he said.

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