HHL reported an EPS of LKR 0.90 for 4Q FY25, along with the PATMI growth of 63.6% YoY to LKR 2.6bn. Group topline witnessed a marginal drop of 3.5% YoY to LKR 30.3bn owing to the decline stemming from Consumer Brands. EBIT margins, however, strengthened to 10.5% (from previous 9.5%) supported by operational efficiencies and favourable macro conditions. We believe HHL’s strong positioning in the Healthcare and Consumer Brands verticals will continue to drive earnings growth.