Business
Hemas posts another strong quarter with Group operating profit at Rs.1.3 billion
Hemas Holdings PLC (HHL) placed on record a resilient performance by delivering another strong quarter. Home and Personal Care (HPC) and Learning segment represented by Atlas along with Healthcare were the significant contributors to the robust performance.
HHL recorded a Group revenue of Rs.16.6 billion for the quarter ended March 31, 2021, an increase of 18.3 per cent over corresponding period last year. Group operating profit for the quarter under review at Rs.1.3 billion is a growth of 58.8 per cent over Rs.829.7 million recorded last year whilst the Group earnings of Rs.859.8 million is an increase of 79.2 per cent over last year.
Despite the challenges encountered in the macro economic environment and the intensity of the competitive landscape, the Group recorded a cumulative underlying revenue of Rs.64.5 billion for the FY 2020/21, a 11.3 per cent growth against FY 2019/20, after adjusting for the disposal of Serendib Hotels PLC, Travel and Aviation segment and N*able. Similarly, the cumulative underlying Group operating profit of Rs.6.0 billion for the year was a year-on-year increase of 56.2 per cent over Rs.3.8 billion recorded last year. As the Group rationalised its portfolio and focused on re-energising the core, the Group stepped up and delivered a cumulative underlying performance for the year surpassed results of FY 2018/19, the most recent year in which normalcy prevailed.
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“Our efforts on working capital management and cost rationalisation measures were proven effective in strengthening the Group’s liquidity position, which was also endorsed by Fitch ratings with the reaffirmation of “AAA (lka)- Outlook Stable” rating criteria for the Group.”
” The Consumer Brands sector revenue for the quarter was Rs.5.8 billion, an increase of 43.1 per cent over corresponding quarter last year.”
“Healthcare sector recorded a revenue of Rs.10.0 billion during the quarter against Rs.8.9 billion over the corresponding period last year, an increase of 12.3 per cent. The growth in the sector was collectively driven by Pharmaceutical Distribution and Manufacturing businesses.”
“Pharmaceutical Manufacturing business, Morison and Pharmaceutical Distribution business delivered a healthy financial performance during the quarter leading to a cumulative double-digit year-on-year earnings growth of 40.6 per cent.”
“Hospitals business witnessed a positive quarter on quarter momentum in patient footfall. Additional revenue streams such as mobile lab services, home care services and Kaya Intermediary care centre supported revenues for the quarter.”
“Mobility sector reported a revenue for the quarter of Rs.734.1 million, a growth of 27.1% per cent over the corresponding quarter last year, and the operating profit for the quarter of Rs.255.1 million was an increase of 12.0 per cent against the previous year.”
“During the year under review, the Port of Colombo handled 6.8 million Twenty-foot Equivalent Units (TEUs) with a year-on-year decline of 6.1 per cent. Similarly, transhipment volumes also witnessed a year-on-year decline of 4.8 per cent. In this backdrop, the Maritime Business continued to face challenges in the quarter, with global ports being congested and vessels opting to bypass the port of Colombo to recover the schedules, resulting in a drop-in throughput,” she said.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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