Hemas Holdings Plc consolidated revenues have increased by 14 percent to Rs 4.3bn and net earnings have increased by an impressive 61 percent to close at Rs 291mn for the quarter ended June 30,2010.
Chief Executive Officer Hemas Holdings Plc Husein Esufally said revenue growth was driven by the pharmaceuticals business, hospitals and leisure, whilst growth in net earnings are largely attributable to power and pharmaceuticals, and the reduction of losses at hospitals.
FMCG sector revenues grew by 6 percent during the quarter to report a turnover of Rs 1.4Bn. Despite the slow start, we anticipate a higher growth in sales volumes in the coming quarters. Net profits declined 5 percent to Rs 166Mn, mainly due to increased marketing investments.
Our Pharmaceuticals business showed good growth, with revenues increasing by 28 percent. The business successfully held its market leadership position with a 16.5 percent share (source: IMS). Hospital revenues have increased by 55 percent year-on-year, for the quarter under review, he said.