Bolstered by the growth in its agribusiness segment, Sunshine Holdings PLC concluded the first half of the year on a positive note.
Consolidated revenue during the period in review rose by 13.6% YoY up to Rs. 9.6 billion while Profits After Tax (PAT) increased by 42.2% YoY up to Rs. 935.4 million, leading to a 29% YoY increase Profits to Equity Holders of Rs. 433 million during and earnings per share of Rs. 3.21 over 1H17.
Healthcare continued to be the largest contributor to top and bottom line performance, accounting for 41.7% of group revenue and 42% of Profit After Tax and Minority Interest (PATMI). The Healthcare sector’s contribution was followed by strong performances across Sunshine’s Agribusiness and FMCG segments which accounted for 34.2% and 19.6% respectively.
Net Asset Value per share during the same period increased to Rs. 44.9, as compared with Rs. 42.8 at the beginning of the year.
Notably, the performance of Sunshine Holdings over the quarter ended September 30, 2016 (2Q17) amounted to the Group’s highest ever 2Q performance. During this period, profits more than doubled, recording 53.5% YoY growth to reach Rs. 527 million.
The five sectors in which the diversified conglomerate operate are; Healthcare (Sunshine Healthcare Lanka Ltd. and Healthguard Ltd.), FMCG (Watawala Tea Ceylon Ltd.), Agribusiness (Watawala Plantations PLC), Packaging (Sunshine Packaging Ltd.) and Renewable Energy (Sunshine Energy Ltd).