Hayleys six month PBT Rs 3.6 billion
Hayleys PLC has reported profit before tax of Rs 3.6 billion for the
six months ending September 30, 2011, nearly triple that of the first
half of 2010-11.
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Chairman
Mohan Pandithage |
Improved operational indicators in most key sectors of business and
substantial capital gains from disposal of investment by some group
companies were contributors to this performance.
According to interim financial statements filed with the Colombo
Stock Exchange, the blue chip conglomerate’s profit after tax of Rs 3.1
billion for the six months reflects a growth of 3.6 times over that of
the corresponding period of 2010-11.
Profit attributable to equity holders of the company quadrupled from
Rs 502.4 million for the first half of 2010-11 to Rs 2 billion for the
six months reviewed.
Group turnover increased by 25 percent to Rs 31 billion.
Commenting on the Group’s results for the half year, Hayleys Chairman
Mohan Pandithage said: “All key business sectors with the exception of
textiles have either improved their performance or made worthwhile
contributions.” Hand protection, agriculture and consumer products made
significantly higher contributions to profit.
The transportation and logistics and the purification sectors also
made worthwhile contributions to performance. The stabilization of
operations at the Group’s textile manufacturing company, Hayleys MGT
Knitting Mills PLC is taking longer than envisaged, Pandithage said.
Established in 1878 and adjudged Sri Lanka’s Best Corporate Citizen
four times, the Hayleys Group employs more than 30,000 people, and
accounts for 2.78 percent of the country’s export income.
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