Hemas Holdings reports Rs. 54.4 Bn cumulative revenue

Hemas Holdings PLC reported cumulative revenue of Rs. 54.4 billion, with operating profits of Rs. 5 billion and earnings of Rs. 2.5 billion in the six months ended September 30, 2024

The decrease in revenue compared to the same period last year was a result of cautious consumer spending accompanied by several strategic downward price adjustments, particularly in the Consumer Brands segment. The Consumer Brands Sector reported a cumulative revenue of Rs. 19.9 billion while the operating profit and earnings Rs. 2.5 billion and Rs. 1.8 billion for the year respectively.

The Sector reported a revenue of Rs. 11 billion for the quarter, while the operating profits and earnings increased to Rs. 1.7 billion and Rs, 1.2 billion respectively due to the improved profitability margins compared to the last year. The sector achieved cumulative revenue of Rs. 33.6 billion, with operating profits totaling Rs 2.8 billion and earnings of Rs. 1.8 billion.

The sector posted revenue of Rs. 17.4 billion for the quarter, while the operating profits increased to Rs. 1.6 billion. In addition, the benefit of lower finance costs contributed to achieving earnings of Rs. 1.0 billion for the quarter. The Pharmaceutical Manufacturing segment expanded its Morison branded portfolio with new product launches, including BisoMor for hypertension and SalMor for respiratory conditions. The mobility sector posted cumulative revenue of Rs 941.4 million while the earnings were reported at Rs. 378.1 million. Accordingly, the quarter witnessed Rs 476.7 million in revenue and Rs.108.4 million in earnings.

The maritime sector experienced growth in volume and freight rates, with improved market share in the Gulf and increased volumes to the Far East after the resumption of the CEM/E service. In aviation, cargo volume rose year-on-year, driven by higher sea-air movements related to the Red Sea situation and increased demand for shipments to Europe and the USA, which also led to improved cargo yields due to higher rates.

“Moving forward, the Group will continue to prioritise consumer and patient centric approaches that address evolving needs to drive sustainable growth in the upcoming quarters” saidRavi Jayasekera Acting Chief Executive Officer Heams. (pictured)