Hemas Holdings PLC’s profits grew by a significant 42.3 percent year-on-year (YoY) to Rs.1.66 billion during the year ended March 31, 2013.
Profits were boosted by a 21.2 percent YoY i ncrease i n turnover, reaching Rs.26.1 billion by the end of the year, alongside a 69.6 percent increase in other operating income, which was recorded at Rs.296.7 million.
Finance costs during the year recorded a 20.5 percent YoY reduction to Rs.370 million, further easing pressure on the bottom line.
Nearly all segments of the group’s business reported improved profits, including FMCG, healthcare, leisure and transportation.
The FMCG segment posted a profit of Rs.745.3 million, with turnover reaching Rs.7.7 billion, while the healthcare and leisure sectors posted profits of Rs.520.2 million and Rs.232.9 million, respectively.
According to a statement from the group, occupancy across the Hemas leisure portfolio remained above 75 percent with Club Hotel Dolphin and Avani Bentota being highlighted as “exceptional performers”.
Notably, profits in the transport segment remained relatively static at Rs.327.7 million, against Rs.313 million in the previous year, despite an increased turnover of Rs.1.1 billion during the year as compared with Rs.722 million in 2012.
Profits in the power segment grew to Rs.220 million, against a previous Rs.195.7 million despite being hampered by a lack of rainfall in catchment areas during the year.
Over the quarter ended March 31, 2013 (4Q13), Hemas profits grew by 8.2 percent YoY to Rs.590.5 million with revenue touching Rs.6.8 billion, a 1 percent YoY increase.
Earnings per share over the quarter improved to Rs.1.15 from a previous Rs.1.06 while over the year, earnings was recorded at Rs.3.22 per share, as compared with Rs.2.26 in 2012.