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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 31-Jan-2013 Interim Financial Statements 31-12-2012 - Orient & Haycarb

31-Jan-2013 Interim Financial Statements 31-12-2012 - Orient & Haycarb

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Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Orient Finance Plc

http://cse.lk/cmt/upload_report_file/1184_1359602946151.pdf

Haycrab Plc

http://cse.lk/cmt/upload_report_file/494_1359602639568.pdf

231-Jan-2013 Interim Financial Statements 31-12-2012 - Orient & Haycarb Empty Orient Finance PLC profits up 55 percent Fri Feb 01, 2013 12:28 am

sriranga

sriranga
Co-Admin
Orient Finance PLC reported a 55 percent increase in net profits for the nine months ended December 31, 2012 to Rs. 127.4 million from Rs. 82.3 million a year earlier, interim financial results filed with the Colombo Stock Exchange showed.

Interest income grew 67 percent to Rs. 520 million while interest expenses grew 188 percent to Rs. 244.2 million, resulting in a net interest income of Rs. 275.7 million, up 22 percent from a year ago.

Personnel expenses grew 45 percent to Rs. 90.1 million, while expenses related to premises, equipment and establishment grew 12 percent to Rs.80.8 million.

The loan loss provision increased by a massive 306 million to Rs. 10.9 million.

Earnings per share increased to Rs. 1.1 from 81 cents a year ago.

Deposits from customers grew 100 percent to Rs. 179.6 million as at end December 2012, with no deposits recorded the previous year.

Orient Finance has borrowed heavily, with interest bearing loans amounting to Rs. 1,781.5 million, up 32 percent from a year earlier.

Investment in government securities grew 149 percent to Rs. 26.4 million, investments in fixed deposits fell 71 percent to 17.5 million, trade and other receivables fell 39 percent to Rs.58.5 million, receivables on leased and hire purchase assets grew 36 percent to Rs. 2,588.6 million.

Pawning advances grew 100 percent to Rs. 4 million, with no pawning advances recorded a year earlier.

The company’s asset book grew 28 percent year-on-year to Rs. 3,236.1 million as at end December 2012. Net assets per share amounted to Rs. 6.57, up from Rs. 5.61 a year earlier.

The return on equity fell marginally to 24 percent from 25 percent a year ago.

Orient Capital Ltd held a 64.99 percent stake in Orient Finance PLC as at end December 2012. First Capital Holdings PLC held a 20 percent stake.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=71598

http://sharemarket-srilanka.blogspot.co.uk/

331-Jan-2013 Interim Financial Statements 31-12-2012 - Orient & Haycarb Empty Haycarb profits up 55% Fri Feb 01, 2013 12:29 am

sriranga

sriranga
Co-Admin
* New markets, maximum capacity utilization & value addition:

Haycarb PLC, the Hayleys Group’s global activated carbon manufacturer, has maintained the momentum of revenue and profit growth in the third quarter, despite challenges in traditional markets.
The company reported revenue of Rs. 8 billion for the nine months ending 31st December 2012, up 36 percent from a year earlier and profit before tax of Rs. 805 million, up 50 percent, for the same period, in a performance attributed to maximum capacity utilisation, value addition and the development of new markets, the company said in a statement.

In a filing with the Colombo Stock Exchange, Haycarb PLC said net profit for the nine months was Rs. 683 million, an increase of 55 percent from a year earlier, and profit attributable to equity holders of the company was Rs 619 million, up 52 percent.

Haycarb PLC Managing Director Rajitha Kariyawasan said the company ran all manufacturing plants at optimum capacity during the review period and focussed extra attention on developing new markets outside traditional geographies. In addition, continued emphasis on value added carbons, further complemented by the devaluation of the Rupee, enabled the company to maintain overall margins, he said.

Improved efficiencies through lean manufacturing resulted in increased throughput from existing configurations and minimised waste, enabling the company to mitigate significant increases in furnace oil and wages costs.

Haycarb has continued its strategy of investing in charcoal inventory with significant working capital funding to ensure supply security. The softening of charcoal prices was adequately passed on to customers worldwide, safeguarding the company’s market share and growth initiatives, Mr. Kariyawasan said.

Haycarb increased its activated carbon manufacturing capacity by 2,500 MT in the period under review with the acquisition of a second plant in Thailand, and will pursue strategy initiatives to expand capacity in new locations in Indonesia coupled with continued emphasis on value addition projects in Sri Lanka, he disclosed.

The pioneer manufacturer of activated carbon in any coconut producing country, Haycarb is also the world’s largest producer of coconut shell-based activated carbon. The Group, whose manufacturing facilities in Sri Lanka, Thailand and Indonesia are supported by marketing offices in the UK, Australia and USA, produces standard, washed and impregnated carbons in granular, pellet and powder form, the company said.

The Board of Directors of Haycarb PLC comprises Messrs Mohan Pandithage – Chairman, Rajitha Kariyawasan - Managing Director, Ranjeevan Seevaratnam, Arjun Senaratna, Dhammika Perera, Sarath Ganegoda, Mrs. Jeevani Abeyratne, Dushantha Ranaraja, Nimal Perera and Dr. Sarath Abayawardana.http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=71599

http://sharemarket-srilanka.blogspot.co.uk/

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