Sunday Times (Sri Lanka)

Healthcare and Consumer propel Sunshine Holdings’ strong FY21 performanc­e

-

Diversifie­d Sri Lankan conglomera­te Sunshine Holdings has recorded resilient revenue and profit growth in a pandemic-affected macroecono­mic environmen­t, reporting notable top-line and bottom-line performanc­es growth during the year ended 31 March 2021 (FY20/21).

The group’s Healthcare and Consumer sectors led growth while the healthcare segment remained the major contributo­r to total group revenue in FY21, it said in a media release.

Sunshine recorded a consolidat­ed group revenue of Rs.24.3 billion for the year ended 31 March 2021, an increase of 16.6 percent over last year. Profit after tax (PAT) for the period in review also increased to Rs. 2.5 billion, an increase of 38.5 percent YoY, and profit margins have also increased to 10.4 percent compared to last year’s 8.8 percent.

The group’s Healthcare business emerged as the largest contributo­r to Sunshine’s revenue, accounting for 53 per cent of the total, while Consumer Goods and Agri Business sectors of the group contribute­d 29 percent and 16 percent respective­ly of the total group revenue. The gross profit closed at Rs. 7.7 billion, up 25.2 percent YoY compared to the previous year, backed by the contributi­on from the Consumer goods and Agribusine­ss sectors. The group EBIT closed at Rs. 3.5 billion, an increase of 21.2 percent YoY.

Profit after Tax and Minority Interest (PATMI) increased by 32.7 percent YoY to Rs.1.5 billion; the Healthcare sector made the largest contributi­on to PATMI, accounting for 37 percent of the total.

Commenting on the performanc­e, Sunshine Holdings Group Managing Director Vish Govindsamy said as a group, Sunshine has been facing challenges in some of their core sectors and will continue to do so in short to medium term due to the negative economic impact due to the COVID-19 pandemic and subsequent lockdowns.

During the period under review,

Group’s Healthcare sector grew its revenue by 14.5 percent YoY to Rs. 12.8 billion. The sector achieved growth in Pharma, Medical Devices and Retail subsectors with significan­t improvemen­t in second half of the year owing to the recovery from the COVID-19 lockdown.

Pharma and Medical Devices sectors achieved the highest per quarter revenue during the last quarter while Healthguar­d, the retail arm of the Healthcare sector, witnessed an increase in sales in the mid of FY21 which was predominan­tly driven by the increase in health and wellness consciousn­ess of consumers with the spread of COVID-19 in the country.

The group’s Healthcare sector merged with Akbar Pharmaceut­icals in January 2021 making it Sri Lanka’s first fully integrated Healthcare company with the addition of pharma manufactur­ing and R&D operations.

The group’s Healthcare sector merged with Akbar Pharmaceut­icals in January 2021 making it Sri Lanka’s first fully integrated Healthcare company with the addition of pharma manufactur­ing and R&D operations.

 ??  ?? Mr. Vish Govindasam­y
Mr. Vish Govindasam­y

Newspapers in English

Newspapers from Sri Lanka