Haycarb records turnover of USD 55 million and profit before tax of USD 3.1 million for H1 2018/19
The Sri Lankan multinational Haycarb PLC reported revenue of USD 55 million and profit before tax of USD 3.1 million for the six months ending 30th September 2018. The profit after tax stood at USD 2.6 million.
Haycarb PLC Managing Director, Mr. Rajitha Kariyawasan said that the adjustment of sales prices due to the sharp increases in raw material cost resulted in the growth in turnover. As the shortage and cost escalation of raw material, coconut charcoal, continued during the first half of the year in most of the supply locations, Haycarb focussed on its lean platform, targeted cost saving initiatives and process improvements to minimise price escalations to our customers while protecting the Group’s profitability. Considerable success achieved from product development efforts to expand its value added product portfolio strongly contributed to the overall business performance.
Mr. Kariyawasan said, “Though we are expecting improved coconut crop and charcoal availability in most of our locations in the 2019 coconut season, the Company is expecting a challenging period due to the increased competition from key coconut carbon producing countries.” He further noted that Haycarb’s strategy of broad basing the raw material supply network and support for environment friendly charcoaling methods under its flagship initiative “Haritha Angara” has contributed to the improvement of sustainable charcoal supply, which will be continued as a core supply chain strategy of the Group.
Mr. Kariyawasan noted that Puritas (Pvt.) Ltd., the environmental engineering business segment is expected to continue to be a key contributor to the Group’s performance during the 2nd half of the year with projected growth in its business in water and waste water treatment systems in Sri Lanka and in the Region.
In the background of increasing emphasis on environmental sustainability worldwide, Haycarb remains positive in its medium to long term outlook in its activated carbon and water treatment systems businesses.
Haycarb Super Star
‘Haycarb Super Star’ – A singing competition held for Haycarb employees, concluded with its grand finale held on 22nd September 2018, at Avenra Gangaara, Wennappuwa during the company annual get-together. Mr. Sanjaya Senevirathne from Recogen Plant won the title with his superior talent, beating four other finalists who competed in the grand finale.
The first round of the event was held in August with 33 participants competing from Madampe, Badalgama and Recogen Factories, Puritas and Head Office in Colombo. Only 15 participants made it to the 2nd round, which was narrowed later to 5 participants winning entry to the final round.
Mr. Darshana Lalith Kumara, Mr. D S P Danasiri, Mr. Nishan Suranjith Abeysinghe, Mr. Sanjaya Senevirathne and Mr. Kosala Senanayake competed for the coveted titled at the grand finale held on 22nd September, entertaining a crowd of over 1200 which comprised of Haycarb employees and their families.
Competitors were provided support by groups of dedicated fans cheering them on during the event. Mr. Sanjaya Senevirathne, the winner of the competition, was awarded by Mr. Mohan Pandithage - Chairman & Chief Executive Hayleys PLC and Chairman Haycarb PLC. Mr. D S P Danasiri and Mr. Darshana Lalith Kumara, both employed at the Head Office, won second and third places respectively.
The event provided live entertainment and a memorable evening for all at Haycarb.
Haycarb Suhada Hamuwa 2018
Haycarb’s annual get-together ‘Suhada Hamuwa’ took place on 22nd September at Avenra Gangaara in Wennappuwa. This year’s event saw over 1200 attendees, which included Haycarb employees and their families from Madampe, Badalgama and Recogen Factories, Wewelduwa Transit Stores, Puritas, and, Haycarb Head Office.
Mr. Mohan Pandithage - Chairman & Chief Executive Hayleys PLC and Chairman Haycarb PLC, graced the occasion as the chief guest, whilst several invitees from Hayleys Group also participated the event. Mr. Mohan Pandithage took the lead in lighting the traditional oil lamp in commencing the event. Mr. Rajitha Kariyawasan, Managing Director of Haycarb PLC extended a warm welcome to the gathering with a brief speech.
Nine employees of the group were felicitated with Long Service Awards in appreciation of their service to the company during the event. Long service award is a special recognition awarded to those who completed 15 years or 25 years of service at the company.
This years’ event also saw the final competition and award ceremony of ‘Haycarb Super Star’ – a singing competition organized for employees. 5 finalists of the competition sang and entertained the gathering competing for the title, which was won by Mr. Sanjaya Senevirathne employed at Recogen.
It was a fun-filled evening for the employees and their families. Kiddie bouncers were available for the children along with gifts and snack packs to enjoy. The event included a spot competition, and a raffle draw. A gala buffet was arranged for the attendees and the band ‘Sunshine’ provided the music to dance the night away. It was a memorable night for all at Haycarb.
Visit us at ECWATECH 2018!
Haycarb will be participating at ECWATECH 2018! Visit us at our booth to discuss your activated carbon requirement for water treatment!
Haycarb records turnover of USD 27.36 Mn and profit before tax of USD 1.16 Mn for Q1 2018/19
The Sri Lankan multinational Haycarb PLC reported revenue of USD 27.36 Mn and profit before tax of USD 1.16 Mn for the first quarter of 2018/19. The profit after tax stood at USD 1.01 Mn.
Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that while the company’s initiatives to extend its market reach and the value added portfolio contributed to the noteworthy growth in turnover, the continuing shortages and escalation of charcoal cost in Sri Lanka and India negatively impacted the profitability at both the company and group levels.
He further said, “Even though coconut crop and charcoal supply chain dynamics stabilised in Indonesia, shortages in coconut shell based charcoal supplies are expected to continue in Sri Lanka, India and Thailand in the short term. In this backdrop the company is continuing to focus on the procurement strategy that emphasizes on retention of existing suppliers, broad basing the supply network and supporting low-cost environmental friendly charcoaling methods. Given the formidable supply chain challenges, Haycarb has demonstrated its sourcing capabilities, to continue deliveries to its valued customers without disruption.”
On a separate note, Mr. Kariyawasan said that the growth in the environmental engineering arm Puritas (Pvt.) Ltd. is expected to contribute positively to the profitability of the Group supported by the expected growth in water and waste water treatment projects in Sri Lanka and in the Region.
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Haycarb PLC is the world's leading manufacturer and marketer of coconut shell based activated carbon solutions. We have over 35 years of experience...
View on YoutubeHayleys is one of Sri Lanka's largest multinational business conglomerates with a history spanning 134 years. We drive a globally competitive busin...
View on YoutubeHayleys is one of Sri Lanka's largest multinational business conglomerates with a history spanning 134 years. We drive a globally competitive busin...
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