Haycarb records turnover of Rs. 11.3 billion and profit before tax of Rs. 844.9 million for H1 2019/20
The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 11.3 billion and profit before tax of Rs. 844.9 million for the for the six months ending 30th September 2019. The profit after tax stood at Rs. 656.7 million.
Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said, “The growth in turnover and profitability is attributable to the strong demand for activated carbon globally, successful expansion of the value added activated carbon portfolio and Haycarb’s innovative supply chain and lean initiatives. Haycarb has continued its key supply chain and CSR initiative “Haritha Angara” (Green Charcoal) project that has provided significant value to the Company, its suppliers, customers and society; we are very proud to initiate, lead and invest in this model.”
Puritas, the environmental engineering sector of the Group, has established itself as a reliable and superior provider of water and waste water purification solutions in Sri Lanka and in the region. Mr. Kariyawasan said that in spite of political and economic challenges that have affected the markets in which it operates, the Company is confident of achieving significant results during second half of the current financial year.
Haycarb Group remains confident of its position of strength and strategic positioning in the coconut shell based activated carbon industry, regeneration services and the environmental engineering segment to continue the growth platform in the background of continued emphasis placed on environmental sustainability, standards and regulations globally.
Haycarb is the pioneer manufacturer of coconut shell activated carbon in any coconut producing country with manufacturing facilities in Sri Lanka, Thailand and Indonesia supported by marketing offices in the USA, UK and Australia. The company contributes net foreign exchange revenues with its value adding processes and is a leading and technologically superior manufacturer in its chosen segment.
The Board of Directors of Haycarb PLC comprises of Messrs Mohan Pandithage – Chairman, Rajitha Kariyawasan – Managing Director, Dhammika Perera, Arjun Senaratna, Sarath Ganegoda, Ms. Jeevani Abeyratne, Dr. Sarath Abayawardana, Sujeewa Rajapakse, M. S. P. Udaya Kumara, Brahman Balaratnarajah, Ms. Sharmila Ragunathan, Ali Asgar Munaver Caderbhoy, James Naylor and M. H. Jamaldeen.