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Sri Lanka Hayleys June quarter net up 43-pct

ECONOMYNEXT – Sri Lanka’s Hayleys conglomerate’s net profit rose 43 percent to 523 million rupees in the June 2015 quarter from a year ago with strong growth in its transport and logistics business, and activated carbon and agriculture sectors. 

Sales fell three percent to 22 billion rupees during the quarter from the previous year, a stock exchange filing said.

Earnings per share for the June 2015 quarer rose to 6.97 rupees from 4.89 rupees the year before.

Profit growth was mainly driven by the strong growth in Hayleys’ transport and logistics business with its coconut-shell-based activated carbon subsidiary and agriculture sector also contributing. 

But profit from its plantations fell sharply owing to the slump in commodity prices and was lower in its fibre business and stagnant in its construction materials business.  (Colombo/August 10 2015)

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