Business
Hemas achieves record earnings for FY 24
Revenue grew by 6.7% to Rs. 121.6 Bn driven by the improvements in all key BUs, Despite the volume contractions in all industries across Hemas managed to outperform the market with market share increases in key segments.
Home and Personal Care Sri Lanka Increased focus on high margin personal care segment.
Value for money offerings
Providing innovative solutions and NPDs including Home and personal care International
Efforts to increase foot print in key markets East Africa and Middle East.
Launched new variants in those markets.
Learning Segment had a good back to school season and entered the value for money segment with Homerun
Pharmaceuticals – Increased focus on Morison branded generics
Hospitals introduced Ambulatory care and focused on improving home care and drove key anchor specialty revenues
However, revenue growth was not up to the expected levels due to adverse impact of the macro-economic challenges.
Even though the country saw improvements in the external sector and progress was made in the IMF programme, consumer spending remained low.
Healthcare Sector particularly remained challenged amidst instability and delays in Government regulatory bodies and procurement authorities.
However, there are some green lights with interest rates slowing and exchange rates slowing. We expect these positive to result in a demand recovery in the coming quarter.
The businesses across the Group engaged in efficiency improvement initiatives.
Allowing breathing space for the businesses to absorb increases in operating overheads.
Working Capital optimisation which has been a key priority and this along with interest rate reductions resulted in a significant improvement in finance cost and working capital. Which intern resulted in reduced gearing and over Rs 23.2 Bn growth in operating cashflows.