Strong performances from companies in global markets and manufacturing in the second quarter of 2007-08 have generated a welcome improvement in top and bottom line performance for Hayleys PLC, the diversified multinational blue chip conglomerate.
In results released to the Colombo Stock Exchange last week, the Group reported that profit before tax had
grown 16 per cent to Rs. 534.9 million in the three months ending September 30, taking the figure for the first half of the year to Rs. 719.5 million.
Profit after tax for the quarter at Rs. 398.5 million reflected a growth of 20 per cent over the corresponding quarter of 2006-07, resulting in a consolidated first half post tax profit of Rs. 466.6 million.
Turnover for the first six months of the year was up 7 per cent to Rs. 14.2 billion, helped by a 10 per cent growth in the second quarter. Hayleys Chairman N. G. Wickremeratne said: “The Group’s performance showed welcome improvement in the second quarter of the year.
Although performance for the half year still lagged behind that of the previous year due to the results of the first quarter, profit before and after tax and attributable to equity holders of the company were all higher in the second quarter compared with the corresponding quarter of last year.”
“We are encouraged by the overall result achieved in the second quarter of the year and strive for a performance for the year which will be significantly better than the previous year’s,” Wickremeratne added.
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