Connaissance Group profit after tax up 22% to Rs. 47 million in nine months

In spite of the downturn in tourist arrivals in the country, especially from Western Europe, the Connaissance Group has performed well when compared with other Destination Management Companies.

For the nine-month period ending December 31, 2006 the Group increased revenue from Rs. 323.6 mn to Rs. 413.8 mn, a 28% increase. Profit after tax showed a 22% increase from Rs. 38.6 mn to Rs 47.0 mn for the same period.

The major contribution to the Group profits were from the Company's flagship Resort, Amaya Lake, formerly Culture Club.

The re-branding of the resort as Amaya Lake, Amaya Hills and Amaya Reef, are now paying great dividends, especially in lucrative Sri Lankan corporate markets.