The Hayleys Group delivered the highest revenue and profit in its 143-year history during FY 2020/21. The revenue increased to Rs 241.28 billion whilst Net Profit stood at Rs. 14.05 billion a 6% on Revenue. Profit attributable to shareholders recorded a healthy growth to Rs. 7.64 billion, compared to Rs. 372.42 million the previous year.
The Performance was underpinned by significant growth in the core performance of the Group’s export-oriented businesses. The Group’s revenue increased to Rs. 241.28 billion reflecting strong growth in export-oriented business including Hand Protection, Purification and Textiles.
With foreign currency earnings exceeding USD 600 million, Hayleys emerged as the largest value-added-exporter among public listed entities. Gross profit increased by 22% supported by improvements in core profitability-primarily in export-oriented businesses.
Meanwhile, Earnings before interest, tax, depreciation, and amortization (EBITDA) recorded a strong growth of 42% to Rs. 33.21 billion and the Group’s Consolidated Earnings before Interest and Tax (EBIT) increased by 58% to Rs.25.95 billion during the year.
The Hand Protection, Purification and Textile sectors delivered remarkable growth supported by robust demand, proactive efforts to increase capacity utilisation, effective supply chain management and increased contributions from value-added products.
“Despite the resurgence of COVID-19 infections in recent weeks, we remain optimistic regarding a medium-term economic revival, given the conducive policy environment and Government efforts to ensure continued business activity” said Mohan Pandithage, Chairman of Hayleys PLC.
“Our team has embraced the realities of a post-pandemic world, through adapting to new ways of working. We expect our export-oriented businesses to maintain their growth momentum while the strong rebound of our domestic businesses seen in the second half of the year is expected to continue in 2021/22.”
“Our optimism is demonstrated by continued investments in expanding our operations and driving increased economic value, as evidenced by the Group’s recent acquisition of South Asia Textiles Limited which is expected to further strengthen our proposition in the textiles sector.”
0 comments: