Hayleys reports 32% hike in year end PAT
View(s):Hayleys PLC closed its financial year ending March 2014/15 on a high, consolidating the growth momentum generated over past years, the company said on Friday.
In its filing to the Colombo Stock Exchange, the group reported a 32 per cent increase in Profit After Tax (PAT), to close the year with Rs. 4.9 billion.
Sector wise contribution was led by the Hand Protection Sector, showing strong recovery from a challenging period, supported by investments in new production facilities and expansions.
The Hand Protection sector will add additional capacity to its recently commissioned household glove factory in the Biyagama Zone and will also see a new industrial glove manufacturing facility commencing operations in the new financial year in keeping with the continued growth, the media release said.
The Transportation and Logistics Sector recovered a commendable growth during the year, and continues to increase its benchmark on service delivery and new business innovations.
“The Textile sector showcased the success of its turnaround programme, posting a profit, a robust growth from the loss recorded in the previous year. The sector has initiated a number of projects that are helping to redefine the business and gain recognition as an industry leader and an innovator,” it said
The Plantation Sector recorded lower profits than in previous years due to the decline in global rubber prices, and economic and political turmoil in key markets in the Middle East and Russia.
However, the industry is hopeful that prices have bottomed out and steps are being taken to optimise productivity in the plantations, the release said.