Hemas to restructure Travel and Aviation sectors | Daily News


 

Hemas to restructure Travel and Aviation sectors

In line with Hemas’ portfolio strategy of focusing on growing its core sectors of Consumer, Healthcare and Mobility, the Group has embarked on a restructuring of its stakes in the Travel and Aviation sectors.

As a result, the Group has reduced its shareholding in Inbound and Outbound Travel and selected Aviation Representation businesses with the majority stake having been acquired by some members of its senior management team. Hemas will remain a shareholder in the business with a 19.9% stake.

“We are confident that this change in ownership structure, where the management team become significant owners, will drive strong growth in the business,” said Steven Enderby, Group CEO, Hemas Holdings PLC.

At the same time Hemas is committed to further strengthen its strategic partnerships in the Mobility Sector and grow its Aviation and Maritime Representations in Sri Lanka on behalf of Emirates Airlines, Evergreen Group and Far Shipping. The Group is expanding its Logistics footprint through the new Spectra Logistics Park, thereby enhancing its focus and synergies in this Sector.

“Hemas as a Group will continue to develop our core Consumer brands and take these to new regional geographies, Bangladesh, India and Myanmar. In Healthcare, completing the new state of the art pharmaceutical manufacturing plant at Morison PLC remains a key priority, as we target full commercial operations in early 2021. In our Hospitals, plans are underway to address the increased demand and expand our services while our Pharmaceutical Distribution has just taken on a major new nutrition agency.”

“With all these major expansion activities in our core sectors unlocking capital and management from our Travel and Aviation interests will drive future growth. We anticipate that the restructuring will be earnings accretive and enhance our return on capital. These changes will also provide improved access to capital and increased business focus for these Travel and Aviation businesses from the new ownership structure.”


Visit Kapruka.com Sri Lanka's Largest online shop. Over 125,000 unique categories such as Fresh Flowers, Cakes, Food, Jewllery, Childrens Toys and other Sri Lankan e-commerce categories. Low delivery cost to most cities here and free delivery in Colombo.

Add new comment