Hemas Group posts cumulative operating profit of Rs. 11 Bn
Demonstrating resilience in the face of one of the most turbulent years, Hemas Holdings PLC, posted a revenue of Rs. 113.9 billion for the financial year 2022/23, a growth of 44.5 % over last year. The Group posted a cumulative operating profit of Rs. 11.0 billion, a 61.6 % growth over previous year and the earnings for the period remained flat against last year at Rs. 4.3 billion.
“With relatively improved operating conditions, the revenue for the quarter reported a growth of 52.6 % while the operating profit for the quarter Rs.3 billion was an increase of 96.5% against last year,” said Group Chief Executive Officer Kasturi C. Wilson
The Consumer Brands Sector posted revenue of Rs 47.6 billion for the year, a growth of 54.7 % over last year mainly due to price increases made to partially compensate the cost escalations and the seasonal shift in the Learning Segment.
In line with revenue growth, operating profit and earnings for the year improved to reach Rs 5.9 billion and Rs.3.2 billion respectively.
The Bangladesh business increased its focus on the personal care brand ‘Actisef’ as a strategy to reduce high single brand concentration, which resulted in the brand contributing approximately 15% to the overall revenue.
Increased focus on internationalization and exports resulted in a 60 % growth in export revenue for the year primarily from the Southeast Asian and South Asian markets.
The Healthcare Sector reported revenue of Rs. 64.7billion for the year driven by the improved performance of the Pharmaceutical Segment.
This is mainly due to the price adjustments made by the National Medicines Regulatory Authority (NMRA) to offset the adverse effects of the steep rupee depreciation. Operating profit for the year stood at Rs. 4.7 billion while the earnings recorded a degrowth to reach Rs. 2 billion.