Diversified conglomerate CIC Holdings PLC has recorded a consolidated revenue of Rs. 64.66 billion for the nine months ending 31 December 2024 (Q3 of FY25), an increase of 7.49% year-on-year (y-o-y) compared to the corresponding period of last year.
The group’s gross profit has increased by 5.81% to Rs. 16.73 billion with gross profit margin for the period in review stood at 25.87%, a decrease of 41 basis points against the same period last year.
Profit-after-tax (PAT) contracted to Rs. 5.70 billion from Rs. 9.67 billion due to a significant gain of Rs. 5.12 billion in the previous period on account of bargain purchase of JKH investment.
The group’s crop solutions sector emerged as the largest contributor to CIC’s top-line, accounting for 43% of total revenue, with health and personal care at 22% and livestock solutions at 20% of the total revenue.
The other two sectors, industrial cluster and agri produce, contributed 9% and 6% to the top-line respectively.
EBITDA (Earnings before interest, taxes, depreciation, and amortisation) growth of agri produce was significant with a 63% increase while health and personal care showed an EBITDA growth of 15%.
However, Group EBITDA decreased by 3% compared to the same period last year due to tight macroeconomic conditions and unfavourable weather conditions affecting the group’s agribusiness.
Additionally, the group’s finance cost declined to Rs. 1.28 billion during the first nine months from Rs. 2.07 billion, reported during the same period last year, owing to lower interest rates and improved macro stability in the economy.
The group operating profit (EBIT) closed at Rs. 8.39 billion (on EBIT margin of 13%).
Agri produce revenue grew from Rs. 4.17 billion to Rs. 4.35 billion, livestock solutions revenue grew from Rs. 11.52 billion to Rs. 13.35 billion and health and personal care revenue grew from Rs. 12.10 billion to Rs. 14.29 billion.
Additionally, industrial solutions revenue increased from Rs. 5.50 billion to Rs. 6.07 billion.
CIC Holdings Group CEO Aroshan Seresinhe said: “Despite the challenging macroeconomic environment and rising operational costs, CIC Holdings continues to demonstrate resilience by leveraging its diversified portfolio and strong market presence. While some segments faced headwinds, we have seen encouraging growth in key areas such as health and personal care and livestock solutions, reflecting our commitment to innovation and meeting evolving customer needs.”