Hayleys’s strong performance with 53% growth in PBT
View(s):Performance was upheld by improvements in the core results of several key verticals as the group leveraged its diversity to remain resilient to external challenges as well as ongoing focus on operating efficiencies and effective management of finance costs, the company said in a statement on Friday.
The group recorded a 29 per cent increase in Profit Before Tax to Rs.9.79 billion during the third quarter of the year. While the strong financial performance underscores the group’s continued commitment to shareholder value creation, Hayleys also remained steadfast in fulfilling its corporate purpose through an unwavering focus on triple bottom line value creation.
The group’s export-oriented sectors recorded an 8 per cent growth in foreign exchange earnings to nearly US$660 million, supported by a continued focus on driving contributions from value-added products and increasing geographical diversity.
Relentless focus on effective margin management and improving operating efficiencies through a focus on productivity and digitalisation resulted in an 11 per cent and 16 per cent increase in Consolidated Gross Profit and Consolidated Earnings Before Interest and Tax (EBIT) respectively. The group’s EBIT amounted to Rs.32.58 billion during the 9 months, while Consolidated Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was Rs.41.36 billion during the period.
Commenting on the group’s performance, Chairman & Chief Executive, Mohan Pandithage said, “We are encouraged by the prevalent conducive operating conditions and will continue to leverage our global networks, diverse business verticals and strong market positions to sustain this growth momentum and generate value to all our stakeholders. Strategic focus on developing our teams, driving innovation and digitalisation and integrating sustainability across our operations has positioned the group to aptly capture emerging global and domestic opportunities, setting a strong foundation for continued growth and long-term competitiveness.”
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