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Hemas posts another strong quarter with Group operating profit at Rs.1.3 billion

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Hemas Holdings PLC (HHL) placed on record a resilient performance by delivering another strong quarter. Home and Personal Care (HPC) and Learning segment represented by Atlas along with Healthcare were the significant contributors to the robust performance.

HHL recorded a Group revenue of Rs.16.6 billion for the quarter ended March 31, 2021, an increase of 18.3 per cent over corresponding period last year. Group operating profit for the quarter under review at Rs.1.3 billion is a growth of 58.8 per cent over Rs.829.7 million recorded last year whilst the Group earnings of Rs.859.8 million is an increase of 79.2 per cent over last year.

Despite the challenges encountered in the macro economic environment and the intensity of the competitive landscape, the Group recorded a cumulative underlying revenue of Rs.64.5 billion for the FY 2020/21, a 11.3 per cent growth against FY 2019/20, after adjusting for the disposal of Serendib Hotels PLC, Travel and Aviation segment and N*able. Similarly, the cumulative underlying Group operating profit of Rs.6.0 billion for the year was a year-on-year increase of 56.2 per cent over Rs.3.8 billion recorded last year. As the Group rationalised its portfolio and focused on re-energising the core, the Group stepped up and delivered a cumulative underlying performance for the year surpassed results of FY 2018/19, the most recent year in which normalcy prevailed.

Following are some key takeaways from an announcement made by –————-

“Our efforts on working capital management and cost rationalisation measures were proven effective in strengthening the Group’s liquidity position, which was also endorsed by Fitch ratings with the reaffirmation of “AAA (lka)- Outlook Stable” rating criteria for the Group.”

” The Consumer Brands sector revenue for the quarter was Rs.5.8 billion, an increase of 43.1 per cent over corresponding quarter last year.”

“Healthcare sector recorded a revenue of Rs.10.0 billion during the quarter against Rs.8.9 billion over the corresponding period last year, an increase of 12.3 per cent. The growth in the sector was collectively driven by Pharmaceutical Distribution and Manufacturing businesses.”

“Pharmaceutical Manufacturing business, Morison and Pharmaceutical Distribution business delivered a healthy financial performance during the quarter leading to a cumulative double-digit year-on-year earnings growth of 40.6 per cent.”

“Hospitals business witnessed a positive quarter on quarter momentum in patient footfall. Additional revenue streams such as mobile lab services, home care services and Kaya Intermediary care centre supported revenues for the quarter.”

“Mobility sector reported a revenue for the quarter of Rs.734.1 million, a growth of 27.1% per cent over the corresponding quarter last year, and the operating profit for the quarter of Rs.255.1 million was an increase of 12.0 per cent against the previous year.”

“During the year under review, the Port of Colombo handled 6.8 million Twenty-foot Equivalent Units (TEUs) with a year-on-year decline of 6.1 per cent. Similarly, transhipment volumes also witnessed a year-on-year decline of 4.8 per cent. In this backdrop, the Maritime Business continued to face challenges in the quarter,  with  global ports being congested and vessels opting to bypass the port of Colombo to recover the schedules, resulting in a drop-in throughput,” she said.



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ICC’s Oceanfront Galle completed on time amidst Covid-19 restrictions

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Oceanfront Galle structure constructions have been completed on time, amidst the restrictions imposed by the authorities to contain COVID 19 pandemic. Nevertheless, ICC has taken initiatives to apply for COC in the beginning of June 2021.

The home owners and potential investors were invited to inspect on the construction progress of Oceanfront condominiums in Galle while experiencing the beautiful sunset by the Galle coast. ICC has conceptualized OFC Galle to have a view of the clear ocean from all possible angles featuring a fully equipped gym, a double floored spa and “Sunset” restaurant with beautiful views of the ocean.

Allowing investors to seamlessly enjoy the returns of OFC, ICC has introduced an all-inclusive rental management system which offers end-to-end solutions.

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Major-value stocks decline,three companies prop up ASPI

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By Hiran H.Senewiratne

Stock trading activities in the Colombo Stock Exchange(CSE) was subdued throughout yesterday as all major value-stocks declined in prices. Three companies; namely LOLC Development Finance (NIFL) Carsons and Bukit Darah kept the All Share Price Index positive, stock market analysts said.

Hence both indices showed mixed reactions. All Share Price Index was up by 16.98 points up and S&P SL20 down by 40.86 points. Turnover stood at Rs 1.94 billion with a single crossing. The crossing took place in HNB (Non Voting), which crossed 330,000 shares to the tune of Rs 36.3 million and its share price traded at Rs 110.

In the retail market top five companies that mainly contributed to the turnover were Expolanka Rs 247 million (4.9 million shares traded), Bukit Darah Rs 156.7 million (450,500 shares traded), LOLC Rs 145.5 million (365,000 shares traded), Browns Investments Rs 128.5 million (21 million shares traded) and HNB (Non Voting) Rs 109.3 million (993,000 shares traded).

When Bukit Darah share price appreciated by 25 percent or Rs 51.25 from its initial trading price of Rs 279.50 to Rs 355, its holding company Carson Plc  share price also appreciated in parallel to its. Carsons Plc share price appreciated by 18 percent or Rs 52. Its share price started trading at Rs 293 and at the end of the day it shot upto Rs 345.

Further, NIFL being a low float company its share price increased by 25 percent or Rs 51.25. Its share price started trading at Rs 205 and at the end of the day it moved to Rs 256.25. These companies positively contributed 75 points to the All Share Price Index. Carsons contributed 28 points, Bukit Darah 28 points and NIFL 19 points to the All Share Price Index.

NIFL or LOLC Development Finance Company  has emerged as the most valuable finance company in terms of market capitalization. During the last seven sessions it’s share price appreciated by 261 percent or 3.6 times. The share price staryed trading at Rs 71 seven days ago and today it has moved up to Rs 256.25.

 

 

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People’s Bank Dankotuwa branch moves to new premises

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Opening of the People’s Bank Dankotuwa Branch at the new location which offers added convenience to its customers

 

People’s Bank Dankotuwa Branch moved to a new location recently. The opening ceremony of the new premises was attended by People’s Bank Chief Executive Officer/ General Manager Ranjith Kodituwakku.

The new spacious premises offers added convenience to customers along with a full range of services backed by the latest digital banking technology.

People’s Bank Deputy General Manager (Recoveries) Lionel Galagedara, Regional Manager(Puttalam) K.A.A.S Peiris, Assistant Regional Manager S.A.M.L Sirimanne, Dankotuwa Branch Manager D.M Liyanage, customers, also participated at the event.

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