The firm said earnings per share were 4.53 rupees for the quarter. Last year's third quarter profits were boosted by non-operational income of 234 million rupees, which fell to 21 million rupees this year.
For the first six months earnings per share was 6.54 rupees with a profit of 490 million rupees.
Chairman Mohan Pandithage told shareholders that profits at the group's activated carbon division were up. The gloves division had increased revenues but profits had fallen due to higher raw material prices.
Fiber and textile businesses had also seen rising raw material prices. But higher commodity prices had helped plantations.
Pandithage said hydro power and aviation and leisure had seen better performance.
Nirmalapura WindPower (Private) Limited, a subsidiary has started building a 10 MegaWatt wind power plant at Nirmalapura, Kalpitiya in Sri Lanka's east cost, which is expected to be commissioned by May 2011.
"The results for the interim period reflect that our focus on postwar opportunities within the country in the fields of agriculture and Transportation have been successful," Pandithage said.
"Our investments in tourism are expected to generate worthwhile returns over the medium term."
Hayleys also bought a 95 percent stake in Alumex, an aluminum extrusions company for 2.1 billion rupees last week.
The firm has been making acquisitions which had increased borrowings but the country's interest rates have fallen.
Group long-term borrowings had increased to 7.8 billion rupees from 5.1 billion rupees and short term borrowings rose to 9.5 billion rupees from 7.4 billion rupees from a year earlier. But finance costs rose to 184 million rupees from 163 million.
source - www.lbo.lk
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