Hayleys records highest turnover

Mohan Pandithage

Hayleys PLC secured its position as one of the top export companies in the country recording the highest turnover of Rs 40 billion in 2011/12, Hayleys PLC chairman and CEO Mohan Pandithage said. He said a number of strategic actions enabled the group to achieve these outstanding results. Pandithage said the company turnover grew by 15 percent and the group profit before tax for the year recorded was Rs 4.8 billion.

The major contributions to earnings have been from agriculture 17.6 percent of PBT, hand protection 39.1 percent, purification 14.7 percent and transport 13.8 percent. This reflects a stable core portfolio that has grown due to continued emphasis on value addition, expansions in capacity, innovation and new technology, diversification of markets and customer centric approach to business.

Pandithage said the group has laid the foundation for future growth by aligning itself to the high growth sectors in the economy. The broad strategy in recent years has been to drive innovation and value addition in the core businesses and strategically enter into new growth areas that have emerged in post war Sri Lanka.