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Sri Lanka Equity Forum » Stock Market Talk » Hemas Profitability drops, CEO Steven Enderby warns tough times ahead but confident of HHL future growth

Hemas Profitability drops, CEO Steven Enderby warns tough times ahead but confident of HHL future growth

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DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
Soon after LLUB CEOs warning, Hemas Holdings CEO too had sounded worried about deteriorating overall macro economic conditions. This is how he starts his Q1 June 2017 report

"Hemas Holdings PLC (HHL) and its subsidiaries achieved a consolidated revenue of Rs.11.4Bn; a year-on- year (YoY) growth of 14.9%, whilst earnings were stable at Rs.694.2Mn. Our healthcare sector was the main contributor to growth during the quarter. Operating profit reached Rs.865.7Mn, a de-growth of 4.6%. The key factors that influenced the decline in profitability were subdued consumer spending resulting from increased inflation and VAT, flooding and landslides in Sri Lanka and exchange rate depreciation. In addition, headwinds faced in our Bangladesh operation and losses incurred at Leisure, Travel and Aviation (LTA) segment also impacted our profitability."

And this is how he ends the report

"We anticipate a challenging year ahead for our businesses with the recent developments in our macroeconomic context. However, we continue to position ourselves for future growth through investing in new facilities, new personal care categories and new geographies with the aim of achieving strong future growth and higher levels of revenue and profitability"

Teller

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Moderator
Good CEO can understand the market risk as well as possibilities. When it comes to us We always wanted to See CSE growth but we have to issue red alerts time to time to safe guard investors. That's the reason I am highiling negatives time to time. I never expect your people to follow me but think some thing differently when I highlight. I love CSE a lot as this gave me the chance to become millionaire from a middle class family. So I don't want to downgrade it but want to safeguard newcomers , retailers always...GL

reyaz

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Manager - Equity Analytics
Manager - Equity Analytics
Thank you Teller!

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