Sunshine Holdings profit up 453 mn for Q3 2012/13
Sunshine Holdings PLC (SUN) announced another quarter of earnings and
profitability growth for the Quarter ending December 31, 2012.
The Company has delivered broad-based growth and market expansion, in
an environment that continues to be challenging.
“Our core businesses continue their consistency in winning at the
marketplace by remaining sharplyfocused on the needs of our large
consumer base while striving for further growth & diversification” said
Vish Govindasamy, Group Managing Director of Sunshine Holdings.
For Q3 2012/13, the Group Revenue was Rs 3.7 billion, a Y-on-Y
revenue growth of 31% and a sequential growth of 14% against Q2.The PAT
was Rs 453 million, a healthy 85% increase Y-o-Y and a 88% increase
against trailing quarter.
Healthcare
Healthcare, one of the largest contributors to the group, posted a
revenue of Rs 1.3 billion and PAT of Rs 110 million for Q3 2012/13. The
challenging environment meant that the company registered a 6% PAT
increase Y-o-Y despite a revenue increase of 12%over the same period
last year.
SBL, the company’s fully owned healthcare subsidiary, is present in
five categories–Pharmaceuticals, Surgicals, Diagnostics, Wellness/OTC
and Retail.
Agriculture
The Group’s Agri Business, its largest Revenue contributor continues
the momentum from the previous quarter registering another good
earnings, paying rich dividends to the Company’smulti-crop
diversification strategy undertaken a few years back.
Posting a revenue of Rs 1.78 billion for the quarter, a 29 % growth
against trailing quarter and a PAT of Rs 287 million, a 54% growth
Q-o-Q, the diversified Agri Business is a consistent topline contributor
to the group.
Palm Oil continues to be the main stay of the business, with tea
having a turn-around year, driven largely by quality improvements in the
field,resulting in increased production.
FMCG
The FMCG segment saw an increase in Revenue of 17% Y-o-Y to post Rs
529 million (against Rs 452 million for Q3 2011/12), but PBT decreased
29% to Rs 68 millionagainst same period last year (Y-o-Y), mainly due to
a rise in raw materials.
Tea category was again the largest contributor with a Revenue &
Volume growth in both Watawala (popular brand) & Zesta (premium brand),
while Oliate (Edible Oil segment)came under some pressure, which
impacted its profitability growth.
Energy
For the first time in the group’s history, the Energy segment
recorded a PAT of Rs 8 million for the quarter, recording a strong
revenue growth Higher than expected Wet Days/Rain falls have contributed
significantly to the increase and the company is confident in their
outlook for the next quarter.
SUN revenue for 9 months ended December 31, 2012 was Rs 10.1 billion
while posting a PAT of Rs 997 million. This is a 24 % and a 196 %
increase over the same period a year ago. |
