Hayleys Delivers Record Breaking Profits
Posted 20,May

By Chaveendra Dunuwille

In Local News

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Hayleys PLC announced historic results in FY 21 which in a statement made by  the company was highlighted as the highest revenue and profit delivered by the  company in its 143 history.  

The surpassed EXPOLANKA which previously held the top spot in terms of  highest profits to record pre-tax figures of 19.2 billion LKR consolidating 14.5  billion LKR as post- tax profit, a 400% increase compared to the previous year.  

The record breaking results were bolstered by a strong performance in the 4th quarter which saw a turnover of 69.3 billion LKR which was a 40% increase and  a pre-tax profit which was seven times the previous year’s value at 7.7 billion  LKR. The After-tax profit was an increase of 750% valued at 5.8 billion LKR. Even  the 4Q bottom scored an impressive 3.5 billion LKR compared to the previous  year’s 234 million LKR.  

The net profit of the company was recorded at 14.05 billion LKR which showed  a contribution of 6% to the total revenue of the company which has grown by 15% to record 241.28 billion. Furthermore the company recorded $600 million  in foreign earnings primarily through the growth of export oriented businesses.  The $600 million made Hayleys the 2nd largest value added exporter among public  enlisted entities. 

While the companies leisure related ventures continued to generate loss due to  the prevailing pandemic conditions the agriculture and construction sector  managed to record good profits. The transport sector managed to achieve a  strong rebound while the Consumer and retail sector showed the highest  profitability due to the increased demand of hand protection, purification and  textile items locally as well as globally.