Haycarb reports 3Q PBT Rs 805 mn
Haycarb, the Hayleys Group's global activated carbon manufacturer,
has maintained the momentum of revenue and profit growth in the third
quarter, despite challenges in traditional markets.
The company reported revenue of Rs 8 billion for the nine months
ending December 31 2012, and profit before tax of Rs 805 million for the
same period, in a performance attributed to maximum capacity utilisation,
value addition and the development of new markets.
In a filing with the Colombo Stock Exchange, Haycarb PLC said net
profit for the nine months was Rs 683 million, and profit attributable
to equity holders of the company was Rs 619 million.
Haycarb PLC Managing Director Rajitha Kariyawasan said the company
ran all manufacturing plants at optimum capacity during the review
period and focussed extra attention on developing new markets outside
traditional geographies. In addition, continued emphasis on value added
carbons, further complemented by the devaluation of the Rupee, enabled
the company to maintain overall margins, he said.
Improved efficiencies through lean manufacturing resulted in
increased throughput from existing configurations and minimised waste,
enabling the company to mitigate significant increases in furnace oil
and wages costs. Haycarb has continued its strategy of investing in
charcoal inventory with significant working capital funding to ensure
supply security. |