FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Hemas profits down 3% Vote_lcap68%Hemas profits down 3% Vote_rcap 68% [ 178 ]
Hemas profits down 3% Vote_lcap18%Hemas profits down 3% Vote_rcap 18% [ 47 ]
Hemas profits down 3% Vote_lcap13%Hemas profits down 3% Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Hemas profits down 3%

Hemas profits down 3%

Go down  Message [Page 1 of 1]

1Hemas profits down 3% Empty Hemas profits down 3% Wed May 30, 2012 12:21 am

CSE.SAS

CSE.SAS
Global Moderator
Hemas Holdings PLC recorded a 3 percent decline in net profits to Rs. 1.3 billion for the 2011/12 financial year while group revenue reached Rs. 21.4 billion, up 18.5 percent from the previous year.

"Revenue growth was driven by Healthcare, FMCG and Power sectors. While earnings for the first half were down by 17.2%, performance bounced back strongly during the third and fourth quarters to close the year with earnings of Rs. 1,209 million," the group said in a statement.

"The FMCG business grew revenues and earnings by 14% and 10.7% respectively, which was a good result after a difficult first half. Healthcare sector recorded a revenue growth of 14.8% and an impressive earnings growth of 41.8%.

"The Hotels sector closed the year with revenues of Rs 1.2 billion and a

profit after tax of Rs 94 million to enjoy a tremendous year despite the half-year closure of Hotel Serendib for refurbishment. Power sector recorded Rs. 4.4 billion revenue and Rs. 203 million earnings. However, earnings were impacted in the Power Sector due to extremely low rainfall in the catchment areas of its hydro power plants. Added to this, was the rapid decline of the rupee which affected most of the sectors.

"During the year under review the group generated operational profits of Rs. 1.96 billion, a growth of 7.7%, while investing Rs. 1.5 billion in projects that will hold the company in good stead in the years to come. Through these investments, the group repositioned and re-branded Hotel Serendib as Avani Resorts, commenced development of its third Hospital at Talawatugoda, and commissioned another mini hydro plant in Upper Magalganga," the company said.

"In the past the group has been actively investing in Hospitals, Hotels and Power, with a long term focus. Over the past five years, Group investments have exceeded Rs. 5 Bn. Together with the learning experience from our first two hospitals coupled with our long term positive outlook on the industry we embarked on our third hospital in Thalawathugoda in early 2012. Given the improved outlook of the tourism industry in Sri Lanka the Hotel group has revived its plans to develop its 43 acre property in Tangalle in the coming year," said Husein Esufally, Group CEO of Hemas Holdings PLC.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=53137

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum