Hemas Holdings PLC and its subsidiaries reported consolidated revenue of Rs.35.6 billion; a year-on-year (YoY) growth of 11.4% and profit attributable to equity holders of Rs.2.1billion, a decline of 12.7% for the nine months ending December 31, 2017.
Cumulative operating profit for the first nine months of the FY18 stood at Rs.2.9 billion; a YoY decline of 10.8%.
“Our double-digit growth in consolidated revenue is preliminary drove by healthcare and mobility sectors. Despite consolidated revenue growth, our Bangladesh consumer business, pharmaceutical distribution, leisure and travel segments are all facing margin challenges resulting in reduced group earnings. Domestic consumer demand, mainly in the rural sector, remains soft impacted by higher headline inflation, poor climatic conditions persisting in parts of the country, lower levels of inward remittances and the VAT increase,” Chief Executive Officer, Steven Enderby.
“While recognising the pressures this exerts on operating profits we continue to invest in expanding our portfolio of consumer products both here and in Bangladesh, developing our digital footprint and driving profit improvement in our home and personal care business.”