Higher local output made possible by improved raw material supply combined with better prices generated by value added products helped Haycarb PLC to continue its performance of 2008-09 into the first quarter of the current year, the company said.
Reporting results for the three months ending June 30, the Hayleys Group’s world-leading activated carbon manufacturing business reported post-tax profit of Rs 102.4 million, up by 58 %. Revenue grew 17 % to Rs 1,244.5 million, and profit before tax increased by 91 % to Rs 118.5 million, it said. Haycarb Managing Director Ananda Hettiarachchy said that although the company’s local manufacturing operation was able to produce higher volumes as a result of better availability of charcoal in comparison to the previous year.
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