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


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Misuse of government property by Royal Colombo Golf Club
by ChooBoy Yesterday at 12:52 pm

» SL Cauvery and Mannar Basins Petroleum Resource Data Revealed
by samaritan Yesterday at 12:00 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 10:39 am

» Container shipping stocks routed
by target1 Fri Jun 24, 2022 1:32 pm

» Supply Chain Latest: Ocean Freight Rates Are Falling
by target1 Fri Jun 24, 2022 1:26 pm

» Turkish ship leaves Ukraine's Mariupol after grain talks with Moscow
by target1 Fri Jun 24, 2022 11:29 am

» This week's CBOT corn, soy freefalls hard to match in recent years
by target1 Fri Jun 24, 2022 9:57 am

» Positive news to boost market sentiment
by samaritan Fri Jun 24, 2022 9:52 am

» Maharaja at IMF meeting
by Maharaja Thu Jun 23, 2022 10:35 pm

» Why no power cuts in certain areas of Colombo?
by samaritan Thu Jun 23, 2022 5:44 pm

» India assures fullest support to Sri Lanka as a close friend
by samaritan Thu Jun 23, 2022 5:17 pm

» SINS, SAMP, COMB, PARQ, ALUMEX and AEL - are they good shares to start collecting now?
by surfjj Thu Jun 23, 2022 4:25 pm

» Learn how a fixed exchange rate system can be used to reduce inflation.
by target1 Thu Jun 23, 2022 3:35 pm

» Debt Crisis: Sri Lanka Vs Argentine
by CHRONICLE™ Thu Jun 23, 2022 8:17 am

» Sri Lanka in state of panic 1 month after sovereign default
by reyaz Tue Jun 21, 2022 5:23 pm

» Financial stability - we are at the crossroads.
by sheildskye Tue Jun 21, 2022 2:17 pm

» Shrinkflation: Is it ethical?
by sheildskye Tue Jun 21, 2022 2:05 pm

» Banking bullish billionaire Ishara expands footprint
by samaritan Tue Jun 21, 2022 10:58 am

» SL hopes to finalize a staff level program with IMF soon-RW
by samaritan Tue Jun 21, 2022 9:48 am

» Sri Lanka Stock Market heading toward ASPI 4500
by samaritan Tue Jun 21, 2022 9:29 am

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™ » Hayleys Q1 profits up 42%

Hayleys Q1 profits up 42%

Go down  Message [Page 1 of 1]

1Hayleys Q1 profits up 42% Empty Hayleys Q1 profits up 42% Wed Aug 12, 2015 9:12 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Profits at Sri Lanka's diversified Hayleys group rose 42.5 per cent to 522 million rupees in the June 2015 quarter, interim accounts showed.


The firm reported earnings of 6.97 rupees for the quarter 2015 compared to the last year earnings of 4.89 rupees on profits of 366 million rupees.
The group revenue declined 3 percent to 22,022 million rupees in the June quarter 2015.
Cost of sales also declined 6 per cent to 16,942 million rupees in June quarter compared to 17,931 million rupees recorded in same period last year. This resulted in gross revenue of the firm to increase 9 per cent to 5,079 million rupees for the first-quarter ending June 2015.



Profit before taxes for the quarter was recorded at 1,190 million, up from 1,088 million during the same quarter in the previous year.



The Hayleys Chief said that all sectors of the company continued to make a positive contribution to the Groups bottom line but the plantation sector is facing a challenging situation.



"The tea and rubber industry in Sri Lanka and globally, is in the midst of one of the most prolonged depressions and strategies are being evaluated to overcome these challenges." Hayleys PLC, the Chairman and Chief Executive Mohan Pandithage stated.
Revenue from the Plantations sector was affected by continued difficulties in key global markets for tea in the Middle East and Eastern Europe.



In this context, the prospect of another wage increase threatens to further increase production costs in the industry, Hayleys said. The situation is compounded by a continued global downturn in latex prices, adversely affecting the rubber sector.
The Transportation and Logistics Sector profits before tax rose 98 per cent to 372 million rupees in the quarter under review, which supported by continued improvements to its benchmark on service delivery and new business innovations.


The Purification Sector performed commendably despite a downturn in key markets and the weakening of the Euro, and recorded a PBT of 222 million rupees.



The Hand Protection Sector contributed 196 million rupees in profits to Group PBT, a reduction for the same period in the previous year.
"This was mainly on account of pressure on margins due to strong competition from the manufacturers in the region." The company said.



The agriculture sector reported a PBT of 187 million rupees while the revenue from the construction material sector increased to 793 million rupees in the first-quarter, reflecting continued growth in the construction industry. Hayleys Textiles sector continued its upward momentum recording a profit before tax of 43 million rupees for the quarter consolidating its turnaround.
Courtesy: Ceylon Financial Today 12 August 2015

Back to top  Message [Page 1 of 1]

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