Hemas Holdings PLC (HHL) delivering strong first half results posted Group revenue of Rs.36.2 billion, an increase of 19.8% over last year. The overall cumulative operating profit of Rs.2.6 billion remained constant over last year whilst the Group earnings of Rs.1.6 billion is an increase of 1.7%.
During the quarter, underlying business grew by 14.7 per cent over last year. Meanwhile, new revenue streams across businesses grew over 100% whilst contributing to 7.5 per cent of the total Group revenue. “The Group operating profit and earnings of Rs.1.5 billion and Rs. 944.1 million saw a year-on-year decline of 23.9% and 26.6% respectively, underpinned by the cost inflation,” Group Chief Executive Officer, Kasturi C. Wilson said. The company declared an interim dividend on October 15, 2021of Rs.2.90 per ordinary share. Operating conditions in Bangladesh continued to be challenging, with the quarter impacted by lockdown restrictions which were lifted in mid-August.
The Consumer Brands sector recorded cumulative revenue of Rs.12.8 billion, a growth of 13.3 % over last year. However, sector cumulative earnings of Rs.727.8 million witnessed a year-on-year decline of 10.3 %. During the quarter, the Consumer Brands sector recorded arevenue of Rs.7.3 billion, a decline of 1.8 %.
Home and Personal Care Sri Lanka delivered a steadydouble-digit volume-led growth. HPC Bangladesh quarterly revenue remained constant over both last year and last quarter. Atlas continued to gain market share across all key categories including books and colour products over last year.
The Healthcare Sector reported cumulative revenue of Rs.22.2 billion, a growth of 23.6 % over last year whilst sector profit of Rs.1.8 billion was a 15.6 % growth over last year.
Hemas Healthcare Sector posted revenue of Rs.11.8 billion whilst operating profit and earnings stood at Rs.994.6 billion and Rs.736.8 million respectively for the quarter. Pharmaceutical businesses delivered a stable revenue growth during the quarter.
Myanmar distribution operations witnessed a quarter-on-quarter recovery in revenue although profitability remains a challenge as a result of the political unrest and currency depreciation.
Hospitals witnessed an average increase in admission volumes by 4.4 per cent over last year with a fair mix of COVID and non-COVID medical admissions for the first half. The Mobility Sector reported cumulative revenue of Rs.1.2 billion, a growth of 23.3 per cent over FY 21 whilst sector profit doubled to reach Rs.471.9 million for the first six months ended September 30, 2021.
During the quarter, Mobility Sector reported a revenue of Rs.595.0 million whilst operating profit and earnings stood at Rs.230.2 million and Rs.73.0 million respectively.