Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka conglomerate Hayleys reports 17% increase in revenues for first quarter
Sat, Aug 9, 2014, 12:02 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 09, Colombo: Hayleys PLC, one of Sri Lanka's conglomerates, in a filing to the Colombo Stock Exchange said the Group maintained growth momentum to achieve a revenue growth of 17% amounting to Rs. 22.6 billion in value terms.

Hayleys said it was also noteworthy that all sectors in the Group maintained positive operating profits during the quarter under review.

The Purification Sector reported a turnover of Rs. 2.4 billion and PBIT of Rs. 157.7 million for 1Q 2014/15. The sector's operations faced significant challenges during the first quarter of the year, as raw material prices increased approximately 20% compared to the previous year, the Group said.

The Hand Protection sector demonstrated commendable recovery from a constrained operating environment in the previous financial year. The Sector reported a turnover of Rs. 3.4 bilion and PBIT of Rs. 331.7 million for 1Q 2014/15. During the reporting period the sector commissioned commercial operations of a new manufacturing facility; DPL Premier Gloves Ltd.

The Group's Fibre and Textiles sectors, both of which have demonstrated strained performance in recent years, showed positive growth in 1Q 2014/15, as restructure initiatives in each of the sectors yielded results. Both sectors enjoyed significant revenue growth and recorded positive operating profits during the first quarter.

Agriculture and Plantations had a challenging first quarter in the face of adverse weather, as the protracted drought impacted productivity of the two sectors. The Plantation sector was also impacted by the decline in global rubber prices. The Plantation sector changed its financial reporting period to 31 March from 31 December. Accordingly, three additional months have been consolidated this quarter, which are reflected in the figures.

The Power and Energy Sector sustained growth during the quarter with Industry Inputs demonstrating a 146% growth in profitability against the 1Q of the preceding financial year. The Consumer Products Sector maintained turnover at Rs. 1.2 billion, sustaining the topline to the previous year's threshold.

Transportation and Logistics continued to demonstrate commendable growth with sustained enhancement of returns from the sector, as turnover and profitability increased by 8% and 5% respectively against 1Q of 2013/14.

The Leisure and Aviation sector recorded mixed results, with The Kingsbury maintaining its growth momentum.

ColomboPage - Recent 10 Stories
Sri Lanka's Sachithra Senanayake achieves career-best rankin
-- [18 minutes ago]
Common opposition candidate challenges Sri Lankan President for a debate on good governance
-- [1 hour and 54 minutes ago]
Sri Lanka Army rejects allegations that soldiers used for menial jobs
-- [2 hours ago]
Special security arrangement for Sri Lanka elections, police arrest 30 for election law violations
-- [3 hours ago]
Think tank in Sri Lanka says Missing Persons Commission is 'structurally flawed'
-- [4 hours ago]
Sri Lankan President shares future plans for the country with private sector
-- [4 hours ago]
Two new judges sworn in to Sri Lanka high courts
Sri Lanka's NDB Investment Bank facilitates Hemas Power acquisition
President orders investigation into attack on opposition rally
Opposition election meetings attacked in Sri Lanka

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.