Hemas on new growth strategy

Hemas Holdings PLC reported another year of double digit growth as it prepared to enter its 60th year with plans to embark on a new and exciting growth strategy.

For the year ended March 31, 2008, Hemas recorded a turnover of Rs. 14.4 bn reflecting a growth of 20.6 per cent over the previous year.

Company Earnings grew by 12.9 per cent to close at Rs. 1.14 bn whilst operating cash flow closed at Rs. 930 m. CEO Hemas Holdings Husein Esufally also unveiled the company’s new purpose statement and its new logo.

“Although Hemas can look back with pride over what we have achieved over the last 60 years, the Board of Directors felt that the time was opportune to re-energise and re-invent the Company with a view to the future.

In this context, we commissioned A.T. Kearney, a global strategy consulting firm, to work with us to review our business portfolio and help formulate an accelerated growth strategy”, he said.

“As a result, we now have a greater degree of focus on our existing businesses and have identified several new growth initiatives for the future. In order to make this happen, a new flatter organisational structure aligned with strategy has been put into place.

“We believe this will create a more empowered environment which encourages innovation and calculated risk taking in order to build sustainable businesses that can thrive in the future”, he said.

The company now has a clear purpose which is to passionately deliver outstanding products and services thus enriching the lives of our customers and creating superior value for our shareholders.

“As we look towards a new era of growth, we look forward to touching more people’s lives in an even more meaningful manner.

It is this intention that lies behind our new tagline - Enriching Lives”, Esufally said. The company also unveiled its new logo which seeks to preserve the best of the past, while representing movement, vibrancy and energy for the future.

Esufally said that while the company has several leading businesses, especially in personal care and healthcare, it is now looking to accelerate growth by investing in emerging high growth industries and also by establishing a footprint in the region.

In this connection, the company has already identified specific potential opportunities which are in the process of being rolled out.

Born in the year of Sri Lanka’s independence, Hemas turns 60 along with the nation. Its 60th year promises to be an eventful one with several important events lined up over the next few months.

The commissioning of its new FMCG facility in Dankotuwa will boost its capability to pursue growth initiatives both in Sri Lanka and overseas.

The opening of Hemas Hospitals marks its entry into the healthcare service industry where it is committed to bring new standards of medical care to its patients.

The latter part of 2008 will also see Hemas commission its first mini-hydro plant giving it a presence in the renewable energy sector, which it believes has much potential.

Hemas Holdings PLC is one of Sri Lanka’s top conglomerates with a focus on five key sectors - FMCG, Healthcare, Transportation, Leisure and Power.