The Sri Lankan multinational Haycarb PLC reported a revenue growth of 5% to Rs. 8.4 billion and
profit before tax of Rs. 702 million for nine months ending 31st December 2015. The profit after tax
stood at Rs. 600 million.
Commenting on the financial results, Haycarb PLC Managing Director, Mr. Rajitha Kariyawasan said,
“The Company operated under adverse market conditions in its export markets due to the economic
downturn and currency devaluation / volatility in its major markets in Europe, Russia, China and
Australia and the continued overall depressed conditions in the gold industry. In addition the high
cost of charcoal imports to Sri Lanka and the increase in charcoal prices in Indonesia and Thailand
impacted the profit margins. Given the challenges in the external environment, focus on lean
manufacturing practices and the savings that continue to accrue from energy saving initiatives
launched previously helped to maintain profitability.”
He further stated that the growth of the environmental engineering arm, Puritas (Pvt.) Ltd. in to the
small and medium scale water/waste-water purification systems in Sri Lanka and in the region has
resulted in a significant increase in revenue and profitability in this business segment in Q3 of
In its initiatives to strengthen the raw material supply networks Haycarb has successfully introduced
an environmental friendly charcoaling facility in Thailand during the third quarter, and will continue
to build partnerships through providing technology and funding for environment friendly charcoaling
in all its manufacturing locations.
Mr. Kariyawasan said that he was pleased to note that the new product development and
commercialization projects resulted in the addition of several new products and accounts to the
sales portfolio that further helped to protect overall margins whilst the Company pursued strategies
to increase and expand its market share in existing and new markets.
Mr. Kariyawasan said that the product development and marketing initiatives together with
significant growth in Puritas (Pvt.) Ltd., is expected to contribute positively to the top and bottom
lines to offset the negative impacts of the challenges highlighted above, in the short to the medium
term. The Company is confident of the medium to long term outlook of the industry and Haycarb’s
strengths to position as a leading player in activated carbon solutions and purification systems.
Haycarb is the pioneer manufacturer of coconut shell activated carbon in any coconut producing
country with manufacturing facilities in Sri Lanka, Thailand and Indonesia supported by marketing
offices in the USA, UK and Australia. The company contributes net foreign exchange revenues with
its value adding processes whilst remaining a leading and technologically superior manufacturer in
its chosen segment.
The Board of Directors of Haycarb PLC comprises of Messrs Mohan Pandithage – Chairman, Rajitha
Kariyawasan – Managing Director, Dhammika Perera, Arjun Senaratna, Sarath Ganegoda, Mrs.
Jeevani Abeyratne, Dushantha Ranaraja, Nimal Perera, Dr. Sarath Abayawardana, Sujeewa Rajapakse,
M. S. P. Udaya Kumara and Brahman Balaratnarajah.