Kumar de Silva
  • Hemas Group achieved operating profit of Rs.907 Mn, YoY growth of 34.8% for the Q1 of Financial Year 2016/17

    PHOTO - Hemas Group CEO Steven Enderby

    CEO’s Review Through continued focus on our strategic priorities, profitable growth, improved organizational structure and innovation, we delivered strong revenues and earnings growth for the first quarter of financial year 2016/17. Hemas Holdings PLC (HHL) and its subsidiaries achieved consolidated revenues of Rs.9.9Bn, year-on-year (YoY) growth of 12.1% for the period, operating profit reached Rs.907Mn and earnings Rs.696Mn, growth of 34.8% and 67.8% respectively. Despite external pressures due to flooding, VAT uncertainty, and increasing inflation resulting in weaker demand, we continued to generate solid performance with FMCG Bangladesh, Pharmaceutical Distribution, and our new shipping agency Evergreen all contributing well. The Consumer business recorded a topline of Rs.4.2Bn for the first three months, a 10.2% YoY increase over the previous financial year. Operating profits were Rs.636Mn, 59.2% YoY growth, whilst earnings grew at 62.6% to stand at Rs.509Mn. We continued to expand our position in key categories with the introduction of

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