Hayleys listed firms post impressive results

Monday, 15 February 2021 02:35 - - {{hitsCtrl.values.hits}}

Hayleys PLC’s listed subsidiaries have posted impressive 3Q and nine-month results beating analysts forecast, whilst parent’s performance is expected to be disclosed today.

As per results released by Friday, 14 listed subsidiaries of Hayleys reported near Rs. 4 billion profit for the third quarter and Rs. 8.5 billion for nine months. (See table).

Most analysts expect Hayleys, once its results are released today, to contend to be the premier diversified blue chip, relegating the long standing JKH and the new star, the financial-rich conglomerate LOLC.

Hayleys in FY20 was the number one corporate with turnover amassing over Rs. 200 billion, and it came second to LOLC in terms of profits.

Like Hayleys, LOLC too is expected to release its results today, which is likely to determine the leader board in terms of profits.

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