A healthy start to FY 2012-13 has seen the Hayleys Group achieve turnover of Rs 17.3 billion and profit before tax of Rs 861 million in the first quarter, with key business sectors making solid contributions to the conglomerate in Sri Lanka.

According to statements filed with the Colombo Stock Exchange, the blue chip conglomerate’s revenue for the three months ending 30th June 2012 reflected growth of 17 per cent, with Hand Protection (Rs 3.4 billion), Purification Products (Rs 2.7 billion), Transportation (Rs 2.2 billion) and Plantations (Rs 2 billion) as the leading contributors.

All of these sectors with the exception of Plantations improved their contribution to revenue and profit before interest and tax (PBIT), while Fibre and Textiles, two previously troubled sectors, also achieved noteworthy revivals, the company said. The Plantations sector’s contribution to turnover and profit was impacted by lower rubber prices, and higher wages in the tea sector.

The Group’s net finance costs increased in the three months reviewed due to the increase in interest rates and the impact of the depreciation of the Sri Lanka Rupee on the Dollar loans of export companies.

Commenting on the performance of the Group as a whole, Hayleys PLC Chairman Mohan Pandithage said: “The figures compare well against those of the first quarter of last year. We are encouraged by the improvements in Textiles and Fibre, and are pleased with the contributions of sectors such as Power & Energy, Industry Inputs and Construction Materials, which show a lot of promise for the future.”