Aitken Spence records Rs. 1.7b PBT in 1H

Aitken Spence PLC posted a pre-tax profit of Rs. 1.7b for six months ended September 31, 2011, an increase of 7.5 percent from the corresponding period last year.

Half-year results show a rise of 8 percent in group revenue to Rs. 13 b. Profit attributable to shareholders increased by 8.4 percent to Rs. 1.1 b while earnings per share rose by 8.4 percent to Rs. 2.79, over the corresponding period in the previous year.

The tourism and cargo logistics sectors contributed positively to revenue, the strategic investments sector showed a decline in revenue for the period under review.

"The growth in pre-tax profit was mainly driven by our resort portfolio in the Maldives and maritime services arm, which includes our operations in southern Africa.

We are pleased to report strong performance by our printing and garment businesses said, Aitken Spence PLC's Deputy Chairman and Managing Director J.M.S. Brito.