Hayleys PLC concluded the 2016/17 financial year with its strongest performance to-date, setting a new benchmark for the turnover among listed Sri Lankan corporates.
Revenue during the year increased by 21% Year-on-Year (YoY) to Rs. 111.4 billion supported by strong performances across the Group’s core businesses spanning transportation, purification, agriculture, construction materials and power & energy. This lead to a substantial 14% YoY improvement on the Group’s results from operating activities, which closed the year at Rs. 9.67 billion.
These remarkable performances enabled the Group to cross another important milestone during the year to post its highest ever Profit Before Tax of Rs. 7.03 billion.
“We take great satisfaction and encouragement from the outstanding performance of Hayleys Group over the last financial year. The strength, vitality and innovative spirit of our group continues to be demonstrated through our record-breaking revenues and PBT, and in the many other remarkable milestones achieved during the year. In this regard we wish to commend the efforts of our employees across the Hayleys Group.
“It is through their skill and dedication that we continue to thrive in domestic and international markets. Moving forward we will continue to consolidate our operations with a view to further strengthening overall profitability while also exploring opportunities to expand growth within our current business segments,” Hayleys PLC Chairman and Chief Executive, Mohan Pandithage said.
All of the group’s top 5 performing sectors were able to register PBTs in excess of Rs. 1 billion. Transportation and logistics recorded a PBT of Rs. 1.79 billion, Purification products posted a PBT of Rs. 1.18 billionand the Group’s agriculture segment achieved a PBT of Rs. 1.1 billion.
The group’s power and energy sector achieved a PBT of Rs. 1.02 billion whilst commissioning one of Sri Lanka’s largest solar power plant of 10MW during the year . The construction materials segment posted a PBT of Rs. 1.02 billion during the period under review.
Over the final quarter of the year, the group’s performance received a strong boost, particularly from its agriculture, construction and transport segments, to finally register turnover growth of 19% YoY up to Rs. 29.2 billion while results from operating activities rose to Rs. 3.52 billion, reflecting 24% YoY growth.
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