Wednesday, 14 November 2018 05:55

Hayleys crosses Rs 100 Bn turnover in 1H

Fueled by topline growth across all of its key business segments, leading diversified conglomerate Hayleys PLC posted a 65% Year-on-Year (YoY) increase in turnover up to Rs. 103 billion for the six months period ending 30 September 2018.

The Group posted strong operating profits which expanded to Rs.6.8billion from Rs 3.2 billion in the corresponding period. The Group incurred an increased net finance cost of Rs.5 billion, mainly due to the inclusion of Singer Group, financing costs of the recent acquisitions and exchange rate fluctuation.

However, the Group Profit Before Tax (PBT) for the period improved to Rs. 1.8 billion from Rs1.4 billion in 1HFY18/19 while Profit After Tax (PAT) also improved to Rs. 769 million from Rs. 719 million.

All segments except for Plantations have contributed to the healthy expansion in turnover for the Group during the period in review.

Revenue within the Consumer & Retail segment expanded substantially from Rs. 2.7 billion to Rs. 31.5 billion in 1HFY18/19, bolstered by the contributions of Singer (Sri Lanka) Group which were acquired by Hayleys at end of 2Q18, generating Rs. 2.4 billion in operating profits.

(Daily News)

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