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Friday, November 9, 2012

Daily Update: 9 Nov 12

· Hayleys Plc reports net revenue growth of 12% (Y-o-Y) in H1 2012/13

- Net revenue in H1 2012/13 increased 12% (Y-o-Y) to Rs. 34.77bn compared to Rs. 31.04bn recorded in H1 2011/12.

- Profit attributable to shareholders in H1 2012/13 however declined 71% to Rs. 591.56mn from Rs. 2.05bn in H1 2011/12. This decline though, was due to a high base effect, as HAYL recorded extraordinary capital gains from the disposal of investments in Q2 2011/12.

- Net revenue in Q2 2012/13 grew 7% (Y-o-Y) to Rs. 17.50bn from Rs. 16.30bn in Q2 2011/12.

- Profit attributable to shareholders in Q2 2012/13 amounted to Rs. 372.48mn compared to Rs 1.78bn in Q2 2011/12, representing a decline of 79% (Y-o-Y). However this too was, due to the high base effect of capital gains recorded in the previous quarter.

Indicator	HAYL	Sector
Price (at 08/11/12)	301.00	n.a
P/BV	1.2x	2.2x
Trailing PER	21.2x	20.8x
Book Value Per Share	250.97	n.a

· Madulsima Plantations Plc reports 13% growth (Y-o-Y) in revenue for the 9-months ended September 2012

- Revenue for the 9-months ended September 2012 amounted to Rs. 1.28bn relative to Rs. 1.14bn recorded in the same period last year (13% Y-o-Y growth).

- Loss for the 9-months ended September 2012 decreased by 76% (Y-o-Y) to Rs. 73.6mn from Rs. 304.8mn in the same period last year.

- The Western High geographical segment - which contributes to 38% of the total revenue - accounted for 79% of the total losses from operating activities recorded over the period.

- Revenue in Q3 2012 amounted to Rs. 339.4mn, a growth of 37% (Y-o-Y) from Rs. 247.19mn recorded in Q3 2011.

- However, the Group recorded losses on PAT in Q3 2012, recording a loss of Rs. 42.92mn relative to a loss of Rs. 225.4mn in Q3 2011. Losses over the quarter however, were lower than the losses made in the comparable period a year ago.