JAT Holdings posts bestever financial year

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JAT Holdings PLC has posted its bestever financial year on record, doubling its Profit After Tax (PAT) during FY2021/22.

Demonstrating resilient performance amidst the most challenging economic environment ever experienced in Sri Lanka, the Company’s Revenues rose by 66% per cent to LKR 8.897 billion, from LKR 5.36 billion in the year prior.

Meanwhile, Gross Profits grew 58% to LKR 2.603 billion, compared with LKR 1.644 billion in FY2020/21, while Operating Profit rose by 73%. Most notably, JAT Holdings PLC witnessed its Profit After Tax expanding by an admirable 102% to LKR 1.211 billion, up from LKR 600 million in the previous year.

The company also witnessed export revenues grow during the year to account for 23% of Group Revenue, from 12% in the year prior, as the business pivots towards more export-oriented activity.  During the year, the Company was able to maintain its Gross Profit margins at 29%, while Operating Profit remained constrained at 13% due to input cost inflation and foreign exchange volatility during the period under review.

However, the Company was able to make two separate interim dividend pay-outs to investors worth LKR 0.32 and LKR 0.25 per share, during the year.

An analysis of key sectoral growth further demonstrated that Wood Coatings grew by 61%, Decoratives (which includes WHITE by JAT) grew by 77% and Brushes grew by 43%, during the period under review, reflecting growth in both volume and value.