manusath-derana

Hayleys single largest shareholder Dhammika Perera to earn over Rs. 189 Million as Dividend Income

May, 22, 2018

As Hayleys PLC crosses US $ 1 billion revenue in the Financial Year (FY) 2017/2018, the company’s single largest shareholder Billionaire Kulappuarachchige Don Dhammika Perera will earn over Rs. 189 million this year as dividend income for the 50.44% percent stake or over 37 million voting ordinary shares he owns in the company. Company on 21st May announced a Rs. 5 per share Dividend as the First and Final Dividend (Not liable for 14% Dividend Tax) for the Financial Year 2017/2018 to be paid for the shareholders by 10th July 2018.

 

Building on a strong momentum gathered over the final quarter of FY 2017/18, Sri Lanka’s leading Hayleys PLC announced a record breaking top-line performance as revenue expanded by 47% Year-on-Year to Rs. 163.2 billion or over US $ 1 billion during the 12 months to 31st March 2018. However the Profit After Tax of the company had drastically come down by a 35% from a Rs. 5 billion in the previous financial year to Rs. 3.2 billion in the FY 2017/2018. Increased borrowings, combined with the prevalence of higher interest rate conditions throughout the financial year had resulted in net finance costs increasing to Rs. 5.93 billion, leading to a reduction in profit before tax (PBT) to Rs. 5.76 billion during the period in review. The Group posted strong operating profits which expanded by 18% Year-on-Year (YoY) to Rs.11.4 billion.