Haycarb posts strong profit in 3Q
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At the lab
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Haycarb PLC, the world-leading activated carbon business of the
Hayleys Group, has reported healthy revenue and profit growth for the
nine months ending December 31 2009 following an improved performance by
local manufacturing operations and consistent growth at overseas
production facilities.
In results filed with the Colombo Stock Exchange this week, the
world's largest manufacturer of coconut shell-based activated carbon
reported that profit before tax had grown 128 per cent to Rs 514 million
on a turnover of Rs 3.7 billion, which was up 9 per cent.
Profit after tax increased 142 per cent to Rs 428 million, while
profit attributable to equity holders of the company at Rs 393 million
reflected nearly a three-fold increase over the figure for the
corresponding nine months of last year. Basic earnings per share for the
period reviewed stood at Rs 13.23, an improvement of 176 per cent over
the Rs 4.79 achieved at the end of the third quarter of 2008-09.
Haycarb Managing Director Ananda Hettiarachchy said the Group's
continued focus on value added products that command better prices in
international markets was one of the principal contributors to its
strong performance in the period reviewed.
Haycarb is the only activated carbon manufacturer with the capability
to manufacture "green" activated carbon utilizing a sustainable
environment-friendly process.
This project is registered under the UNFCCC protocol (United Nations
Framework for Climate Change Convention) as a Clean Development
Mechanism and is eligible to trade carbon credits.
Incorporated in 1973, Haycarb is the pioneer manufacturer of
activated carbon in any coconut producing country. The Group owns
manufacturing facilities in Indonesia and Thailand and has marketing
offices in the UK, Australia and USA.
Its product range covers standard, washed, and impregnated carbons in
granular, pellet and powder form. |
