Hemas Plc’s net profit for the financial year concluded on March 31, 2011 rose 34 percent to Rs.1.2 billion from a year ago. The revenue for the year also went up 20.5 percent to Rs.18 billion.
The company has interests in Fast Moving Consumer Goods (FMCG), pharmaceuticals/healthcare, leisure, power generation and transportation.
However, the post tax profit of the final quarter fell 8 percent to Rs.311 million compared with the corresponding period, last year. Yet, the revenue of the company for the quarter increased 32 percent to Rs.4.9 billion.
According to the segmental analysis, the profits from FMCG sector in 2011 fell to Rs. 83 million from Rs. 162 million in last year while transpiration sector falling to Rs.27 million from Rs.60 million.
However, the profits of the healthcare sector rose to Rs.70 million from previous year’s Rs.37 million while the leisure sector profits increased to Rs.99 million from 55 million.
Profits from power sector rose to Rs. 111 million in 2011 from Rs. 97 million in 2010.
In the notes to the financial accounts, Hemas said in August 2010 Hemas’s subsidiary Serendib Hotels PLC acquired 19.9% of Jada Resorts & Spa (Pvt) Ltd., the holding company of Kani Lanka Resort & Spa for an amount of Rs.325 million.
The notes also said that the Company exercised its rights and invested Rs. 121million in Hemas Hospitals (Pvt) Ltd on 31 March 2011.
source - www.dailymirror.lk
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