HAYL.N0000 Hayleys PLC

slstock wrote:

CK wrote:I believe media...

Ok.

But did you read the complete disclosure  by Hayleys linked above.

now read..
Anyhow I don't believe DP. That's why I said media...

Some say due to imminent threat by DP in the upcoming presidential election this is a part of an early mud slinging campaign @ him to tarnish his image.

ඔය හේලීස් ලට හෙම කියල තියෙන්නේ කුණූ ගොඩ ඊළඟ මාසේ 12 කලින් ප්‍රති අපනයනය කොරන්න කියල

Hayleys June losses double as interest, Easter blasts take toll

ECONOMYNEXT - Loses at Sri Lanka's Hayleys Plc doubled to 548.5 million rupees in the June 2019 quarter amid rising interest costs, lower domestic consumer demand and a weak tourism industry following the Easter attack, despite better exports.

Losses per share for the quarter were 7.31 rupees. The stock closed a 161.70 rupees, down 3.90 rupees, Thursday

Exports industries in textiles, and activated carbon had shown higher profits.

The Easter attack had widened the tourism sector losses and subdued consumer sentiment had lowered profits for the consumer and retail segment, Hayleys said.

Group revenue for the June 2020 quarter rose 4 percent from a year earlier to 52.6 billion rupees due to higher export earnings while cost of sales rose 4 percent to 40.3 billion rupees and gross profits grew 3 percent to 11.9 billion rupees.

Net finance costs grew 27 percent to 3 billion rupees in June from a year earlier, as the group continues to be burdened by debt.

Long-term borrowings rose to 47.6 billion rupees in June from 39.7 billion rupees at the start of the financial year in April.

Short-term borrowings fell to 43.6 billion rupees in June from 47.8 billion rupees three months earlier.

"We anticipate interest rates to decline over the short-to-medium term, supporting earnings expansion," Chairman and Chief Executive Mohan Pandithage said.

Tax expenses in June fell 33 percent to 358.7 million rupees from a year earlier, as the group deferred income tax payments. (Colombo/Aug09/2019)

Thanks.

Huge debt ..looks like DP in trouble

Not DP but Hayleys.

The Invisible wrote:Not DP but Hayleys.

Yes

Hayleys Group delivers profit growth in a challenging year

The Hayleys Group’s geographical and sectoral diversity enabled it to deliver earnings growth in an extremely challenging year, with profit-after-tax increasing by 5% y-o-y and profit attributable to equity holders growing by 40% in 2019/20. Profitability was upheld by the strong performance of the Group’s export-oriented businesses which countered the weaker performance of the sectors which were directly impacted by the Easter Sunday attacks and the COVID-19 pandemic. Hayleys’ diversified operations, which include 180 companies across 5 continents, presented challenges in finalising the interim financial statements post-COVID 19, the Group’s resilience and its ability to navigate complexities in this period is a reflection of the diversity of its earnings profile.

The Group’s turnover declined by 4% to Rs.210.31 billion in 2019/20, primarily due to the terror attacks in April 2019 as well as the COVID-19 pandemic in the latter part of the financial year. The Group’s core performance improved during the year with EBITDA and Operating Profit increasing by a respective 12% and 3%. Concerted efforts towards driving operational efficiencies and lean initiatives are reflected in the 4% reduction in Group Administrative expenses and widening of the operating profit margin to 8%, from 7% the previous year.

Consolidated finance costs remained relatively unchanged at Rs.13.05 billion during the year. Group pre-tax profit recorded an increase of 1% to Rs.5.50 billion while profit after tax grew by 5% to Rs

2.89 billion. Meanwhile, the Group recorded consistent balance sheet expansion with total assets increasing by 7% to Rs.248.31 billion as at end-March 2020.

Hayleys was one of the earliest to re-commence all of its business operations under stringent safety guidelines following the gradual easing of restrictions. The Group also launched ‘Haysmart Initiatives’ which sets out clear guidelines for cost rationalisation and exploring new opportunities, which in turn has allowed the Group to defer non-essential expenditure and preserve liquidity. Hayleys PLC, along with several Group companies also made contributions towards supporting front-line personnel, communities impacted by the pandemic.

“While disruptions to operations in the aftermath of the pandemic are anticipated to impact Group performance over the short-term, we are confident that the resilience of the export businesses will support earnings growth” said Mr. Mohan Pandithage, Chairman of Hayleys PLC. “The Purification and Hand Protection sectors are poised for expansion with strong order books while the gradual easing of restrictions in the country and the resurgence of economic activity is expected to support the recovery of the other sectors over the medium-term. I would like to place on record my sincere appreciation to all our employees, who extended their fullest support and commitment to the Group during these challenging times. I would also like to thank our customers, suppliers, business partners and other stakeholders for their continued patronage and confidence”