United Motors Group records Rs. 966m PAT

United Motors Group's net profit after tax for the half year ended September 30, rose 396 percent year-on-year to Rs.966 m. This is the highest ever net profit the Group has recorded.

The revenue of the Group rose 147 percent from Rs. 3.61 b for the half year ended September 30, 2010 to Rs.8.95 b for the same period of the current year.

The company United Motors Lanka PLC (UML) has also achieved significant growth as revenue increased 119 percent and net profit rose 458 percent from Rs. 88 m for the six months ended September 30, 2010 to Rs.484 m in the corresponding period of the current year.

United Motors Chief Executive Officer Chanaka Yatawara said that over the last few years UML Group Companies have added on a significant range of vehicles and products to its product portfolio, this move has been valuable as the group is now placed better in terms of risk against policy and taxation changes in any one segment.

He said that all Companies under the Group have performed exceptionally well during the period.

With the increasing demand for its vehicles, services and products, UML is planning to expand its main workshop in Orugodawatte to accommodate more vehicles while increasing workshop capacities at its branches.