Given the current uncertainty regarding the duration and intensity of the pandemic in Sri Lanka and globally, Hayleys PLC said that it needs more time to assess and quantify the exact impact of COVID-19 on the Group's operations.

In a disclosure to the Colombo Stock Exchange (CSE), Hayleys PLC Chairman and Chief Executive Mohan Pandithage stated that due to the present situation prevailing in the country in the wake of COVID-19 outbreak, the company is unable to submit the Interim Financial Statements for the quarter ended 31 st March 2020 to the CSE on the due date (31.05.2020) as per the Listing Rules.

However, the chairman disclosed that the turnover for the year ended 31 March 2020 of the Company and the Group was Rs.400 Million and Rs.209 Billion respectively (unaudited) and the turnover for the quarter ended 31 March 2020 of the Company and the Group was Rs.98 Million and Rs.49 Billion respectively (unaudited).

“Given the current uncertainty regarding the duration and intensity of the pandemic in Sri Lanka and globally, more time is required to assess and quantify the exact impact of COVID-19 on the Group's operations, However, our diversity in terms of businesses and geographies is likely to enable a degree of resilience,” Pandithage said. It was also disclosed that strategies implemented to preserve liquidity and curtail losses will be reviewed on a weekly basis by the Group Management Committee and with the Board of Directors on a regular basis.

Meanwhile in a message to investors, the chairman requested them to continue to maintain the same level of confidence upon the company before the outbreak of the pandemic until they release the interim financials as soon as possible.

Further, he confirmed that they have informed the directors, key management personnel and other related parties who have access to unpublished price sensitive information to take additional precautions in the event such parties intend to trade during the delayed period of information submission.