Performance was upheld by improvements in the core results of several key verticals as the Group leveraged its diversity to remain resilient to external challenges as well as ongoing focus on operating efficiencies and effective management of finance costs.
Meanwhile, the Group recorded a 29% y-o-y increase in Profit Before Tax to Rs. 9.79 bn during the 3rd quarter of the year.
While the strong financial performance underscores the Group’s continued commitment to shareholder value creation, Hayleys also remained steadfast in fulfilling its corporate purpose through an unwavering focus on triple bottom line value creation.
The Group’s Consolidated Revenue increased by 12% to Rs. 363.54 bn during the period, fueled by growth in Transportation & Logistics, Consumer & Retail, and Projects & Engineering as the Group leveraged its strong market positions to capitalise on the more conducive operating conditions.
The Group’s export-oriented sectors recorded an 8% y-o-y growth in foreign exchange earnings to nearly USD 660 million, supported by a continued focus on driving contributions from value-added products and increasing geographical diversity.
Relentless focus on effective margin management and improving operating efficiencies through a focus on productivity and digitalisation resulted in an 11% and 16% increase in Consolidated Gross Profit and Consolidated Earnings Before Interest and Tax (EBIT) respectively.
The Group’s EBIT amounted to Rs. 32.58 bn during the 9 months, while Consolidated Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was Rs. 41.36 bn during the period.
Effective management of finance costs and the decrease in market interest rates led to a near 26% reduction in net finance costs, which together with the Group’s robust operating performance resulted in a 53% y-o-y increase in Consolidated Profit Before Tax to Rs. 22.52 bn.
The Group’s Tax Expense increased by 14% to Rs.8.64 bn reflecting ongoing value creation to the Government.
Overall the Group delivered an impressive 94% y-o-y growth in Consolidated Profit After Tax to Rs. 13.88 bn during the reviewed period.
The Group’s diverse and resilient earnings profile together with its strong financial position has enabled Hayleys to retain its national long-term rating of ‘AAA (lka)’ by Fitch Ratings, with a stable outlook.
Commenting on the Group’s performance, Chairman & Chief Executive, Mohan Pandithage said,
“We are encouraged by the prevalent conducive operating conditions and will continue to leverage our global networks, diverse business verticals and strong market positions to sustain this growth momentum and generate value to all our stakeholders.
Strategic focus on developing our teams, driving innovation and digitalisation and integrating sustainability across our operations has positioned the Group to aptly capture emerging global and domestic opportunities, setting a strong foundation for continued growth and long-term competitiveness.”
The Group remains committed to decoupling business growth from adverse environmental and social impacts, as articulated in its holistic ESG Roadmap, the Hayleys Lifecode.
Despite business expansion, the Group recorded a 2% y-o-y reduction in its carbon footprint during the 9 months ending December 2024 as it continued to increase reliance on renewable and sustainable energy sources, which accounted for nearly 70% of the Group’s total energy composition.
As one of the country’s most socio-economically impactful organisations, Hayleys continues to drive inclusive value across its extensive supply chains and communities, driving economic empowerment across Sri Lanka.
The Board of Directors of Hayleys PLC consists of Chairman & Chief Executive Mohan Pandithage, Co-Chairman Dhammika Perera, Sarath Ganegoda, Rajitha Kariyawasan, Dr.Harsha Cabral, PC, Ruwan Waidyaratne, Aravinda Perera, Jayanthi Dharmasena, Rohan Karr, Gamini Gunaratne, Timothy Speldewinde, Yohan Perera and Jonathan Alles.
Photo caption left to right Hayleys PLC Chairman and Chief Executive, Mohan Pandithage and Hayleys PLC Co-Chairman and Non-Executive Director, Dhammika Perera