Haycarb records Rs. 5.5 bln turnover, pre-tax profit of Rs. 417 mln for last 1stH
View(s):Sri Lankan multinational Haycarb PLC reported a revenue growth of 6 per cent to Rs. 5.5 billion and profit before tax of Rs. 417 million for six months ending 30th September 2015. Post-tax profit stood at Rs. 351 million.
In a media release, Haycarb PLC Managing Director, Mr. Rajitha Kariyawasan said, “Even though the raw material prices in Sri Lanka stabilized in the first half of the year, the current trend of increasing raw material prices in India, Sri Lanka and Indonesia, difficulty in sourcing adequate quantities of raw material at competitive prices and the intense competition in global markets due to the depressed gold industry and competition from low cost manufacturers from Philippines , India and Indonesia remain key challenges.”
He said Haycarb has launched initiatives to strengthen raw material supply chain networks and build partnerships through providing technology and funding of environment friendly charcoaling technology in Sri Lanka and overseas.
He said the company remained confident of the medium to long term outlook of the industry and Haycarb’s role and positioning as a leading player in activated carbon solutions and purification systems.