Hemas Holdings posts Rs. 24.8 bn group revenue
Hemas Holdings PLC (HHL) posted Group revenue of Rs. 24.8 billion, an increase of 51.4% over the same period last year.
Despite the macroeconomic challenges, continued strategic focus on our defensive core sectors resulted in a growth in revenue of 17.7% for the Group against last quarter, said Chief Executive Kasturi C. Wilson. (Pictured) Consumer and Healthcare Sectors contributed to improved earnings of Rs 1.1 billion, a growth of 69.5% against last year and 1.6% against last quarter. Operating profit for the quarter stood at Rs. 2.0 billion compared to Rs. 1.1 billion recorded last year and Rs. 1.5 billion reported last quarter.
Consumer Brands Sector recorded revenue of Rs. 8.7 billion, an increase of 62.7% over last year driven by improved performance of all business units. Expansions made in the overseas footprint in both the Home and Personal Care and Learning Segment resulted in a 74.2% growth in year-on-year export and international revenue. Consequently, the sector reported an operating profit of Rs. 704.3 million and earnings of Rs. 499.0 million, a growth of over 100% over last year stemming from the revenue growth and efficiency improvements. However, the Sector witnessed a 15.2% de growth in operating profit against last quarter.
The business’ key brand ‘Atlas’ gained market share across all sectors with double digit volume led growth. During the quarter the Bangladesh business maintained its market position with a stable volume growth. Contribution from new products increased to 18.9% during the quarter as against 7.1% recorded last year. Hemas Healthcare sector recorded revenue of Rs. 15.7 billion, a growth of 49.9% over last year. Both Hospitals and Pharmaceuticals Businesses collectively contributed to the strong performance of the sector. Operating profit and earnings of Rs. 1.2 billion and Rs. 713.1 million for the year was an increase of 38.1% and 14.8% respectively. On a quarter-on-quarter basis the Sector reported an operating profit growth of 30.2 per cent and an earnings growth of 11.8%. The Pharmaceutical business of the Group delivered a steady performance during the quarter leading to a double-digit year-on-year revenue growth of 57.5%.
Increased footfall and occupancy witnessed during last quarter continued with hospitals recording underlying revenue of Rs 1.5 billion, a growth of 37.8%. The Mobility Sector reported underlying revenue of Rs. 443.9 million, a growth of 53.15 over last year mainly due to increased yields. Similarly, operating profits and earnings witnessed a growth of 65.9%and 70.3% respectively. Despite the 8.3% growth in revenue, earnings reported a de-growth of 27.7% against last quarter due to increased volatility in the business environment.
During the quarter, the Group’s carbon footprint per million rupees of revenue decreased by 11% to 3,761 MT.