16. Hemas Holdings
Hemas Holdings rises up the Business Today TOP 30 to number 16. A diversified conglomerate in FMCG, healthcare, leisure, transportation and new ventures, the Group has continued to develop solutions and products for the consumer in Sri Lanka while also moving into the Asian region from Bangladesh to Thailand.
Revenue of the Group grew by 16.9 per cent to record 38 billion rupees. Group earnings was at 2.7 billion rupees, which was a growth of 37.7 per cent. The consumer sector was the highest contributor to the total revenue with a sales growth of 20.2 per cent. There was volume growth across all sectors and the introduction of new products was a contributing factor to the increase in performance. Consumer business in Bangladesh continued to maintain its high revenue growth (80 per cent).J L Morison, which is part of the FMCG portfolio saw an earnings growth of 43.4 per cent. The company is fully participating in the growth of the domestic pharmaceutical manufacturing sector, and is meeting both public and private sector requirements.
The hospital sector recorded a growth of 31.9 per cent. The flagship hospital, Hemas Wattala recorded a revenue growth of 25 per cent. Hemas Pharmaceuticals and Hemas Surgical & Diagnostics had an uncertain start due to the pharmaceutical market contracting, however they were able to post a growth of 20.15 per cent during the latter part of the year.
Leisure posted a revenue of 3.4 billion rupees reflecting a 13 per cent increase. Leisure sector consists of Serendib Leisure Group of Hotels and Diethelm Travel Sri Lanka. This sector contribute 8 per cent to the total Group revenue. The transportation sector continued to show a strong performance with a revenue growth of 17 per cent.
Diversified groups such as Hemas have an immense responsibility to continue to invest in more non-traditional areas and drive the private sector forward.