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Tuesday, 12 February 2013

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‘Hemas earnings grow 26 %’

The Hemas Group posted a revenue growth of 26.1 % to record Rs. 19.2 billion (as per SLAS) for the period ending December 31, 2012.

Our power, healthcare and FMCG sectors were the main contributors to the increase in revenue, posting a growth of 40.9%, 22.0% and 15.4% respectively. Group earnings grew by 25.8%, to record Rs. 1,052 million, driven by FMCG, Healthcare and Transportation sectors which grew at 27.2%, 31.1% and 35.8%, respectively for the period ending December, 2012.Earnings in our Leisure sector swung from a loss of Rs. 8 mn last year to a profit of Rs. 98 mn this year said CEO, Husein Esufally.

The FMCG sector recorded revenues of Rs. 5.6 bn, which is a 15.4 % growth over the previous nine months; however, much of this growth was price led.

The sector was the largest contributor to Group earnings posting Rs. 548 mn for the period ending December 31, 2012, a growth of 27.2%.

Sales to the modern trade were impacted due to the imposition of VAT on large scale wholesalers and supermarkets introduced in the 2013 Budget proposals.

The Healthcare sector posted a revenue growth of 22 % to record Rs. 6.7bn, driven by the growth in Hospitals as well as Pharmaceutical Distribution.

The sector posted a healthy earnings growth of 31.1%, to reach cumulative earnings of Rs. 375 mn for the year under review. Our Pharmaceuticals business continued to maintain its market leadership position with a market share of 17.8% (Source: IMS) in a rapidly growing industry which grew at 18% during the period ending 31st December, 2012.

“Our Hospital business also posted strong results with a 28.1% growth in turnover during the year under review.

Progress in constructing our third hospital at Thalawathugoda is on schedule, and we expect to serve our first patient on May 1, 2013.”

Our Leisure sector enjoyed an excellent nine months posting revenue growth of 49.5% to close at Rs 1.1bn, largely attributable to a good winter season performance. Club Hotel Dolphin led the sector with a top line growth of 22.0% and an average occupancy of 85%.

Transportation Sector top line grew by 38.0% over last year to Rs747mn driven by the performance in the Aviation and Maritime Segments. Sector earnings stood at Rs 217 mn, reflecting an impressive growth of 35.8 % year-on-year. Our Power sector recorded a revenue growth of 40.9% reaching Rs 4.4 b n driven by escalating fuel prices.

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