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22 May, 2015 07:49 AM Source: Financial Times - Sri Lanka
Hayleys Logo.jpg

Hayleys PLC closed its financial year ending March 2014/15 on a high, consolidating the growth momentum generated over past years. In its filing to the Colombo Stock Exchange, the group reported a 32% increase in Profit After Tax (PAT), to close the year with Rs. 4.9 billion.

Sector wise contribution was led by the Hand Protection Sector, showing strong recovery from a challenging period, supported by investments in new production facilities and expansions. The Hand Protection sector will add additional capacity to its recently commissioned household glove factory in the Biyagama Zone and will also see a new industrial glove manufacturing facility commencing operations in the new financial year in keeping with the continued growth.

The Transportation and Logistics Sector recovered a commendable growth during the year, and continues to increase its benchmark on service delivery and new business innovations.

The Purification Products Sector recorded profit growth despite challenging conditions including elevated raw material prices and a downturn in the gold market. It is noteworthy that the Purification sector is leading a programme, together with the other sectors in the company, to provide clean drinking water to some of the villages that are worst affected by the Chronic Kidney Disease (CKD). To date over 5,000 families have access to clean drinking water through this initiative.

The Textile sector showcased the success of its turnaround programme, posting a profit, a robust growth from the  loss recorded in the previous year. The sector has initiated a number of projects that are helping to redefine the business and gain recognition as an industry leader and an innovator.

The Agriculture Sector PBT increased during the financial year, reflecting positive results from a number of new business ventures, including the seaweed cultivation project in the Mannar region, which engages women in the locality to farm and harvest seaweed, providing them with a supplementary income source.

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