Whilst the horrific events of Easter Sunday and the on-going challenging security situation in the country remains a major concern for all, Sri Lanka’s Hussein Esufally and brothers owned and controlled (over 380.4 million voting shares or over 64% of issued voting capital) Hemas Holdings PLC, the company Chief Executive Steven Enderby says that In the aftermath, Hemas has been subject to baseless allegations that they favour one community over another.

“The Hemas that I am proud to play a leadership role in is a secular, performance, ethics and value driven organization” Enderby notes in his latest quarterly review adding that they take decisions based on delighting customers, improving performance and developing great teams, while always looking to reduce impact on the environment and improve the well-being of the community.

“We are committed to serving all Sri Lankans well” Enderby points out adding that they are trying to help those directly impacted and are also taking steps to ensure the safety of staff and business.

“We applaud the hard work of the security forces in their efforts to ensure the safety and security of all” Enderby adds in his latest review.

According to him the Group reported consolidated revenue of Rs.64.1 billion for the year ended March 31, 2019, indicating a Year-on-Year (YoY) growth of 28.5%. Group operating profit stood at Rs.5.7 billion, a growth of 33.4% over the previous financial year. The profit attributable to equity holders of the parent at Rs. 3.4 billion is a YoY growth of 25.4%.

He further points out that the acquisition of Atlas and additional one offs relating to the disposal gain from the sale of Hemas Southern hospital, fair value adjustments and unrealized exchange losses impacted operating profit for the year.

“If we remove these we achieved full year revenue growth of 13.3% and operating profit growth of 9.2%, the result of weak macroeconomic growth of 3.2% in 2018, significant currency devaluation of 13% for the year ending 31st March 2019 and price controls on pharmaceuticals” Enderby points out. During the period under review, company’s consumer sector recorded a revenue of Rs. 25.6 billion, indicating a YoY growth of 55.0%. Operating profit of Rs.2.8 billion grew by 91.1% during financial year 2018/19.

- Reporting by Devendra Francis