Access Engineering records 73 percent bottom line growth
Access Engineering PLC recorded growth in both top line and bottom
line based on projections the company had for the nine months ended
December 31, 2012.
According to financial results released to the Colombo Stock
Exchange, turnover for the nine months ended December 31, 2012 stood at
Rs. 9.862 billion and Rs. 8.011 billion, which was a growth of 118
percent and 82 percent at group and company level over the corresponding
Highway construction, building construction, water and drainage
construction have contributed most to the turnover at company level.
At group level, the company's subsidiary Sathosa Motors PLC has
contributed Rs. 1.7 billion to the top line. The company's subsidiary,
Access Realties (Pvt) Ltd also contributed to the top line with a
turnover of Rs.104 million.
Stemming from the top line growth, the company's pre-tax profit of
Rs.1.888 billion and Rs.1.634 billion witnessed a growth of 70 percent
and 59 percent at group and company level. Further, the company's After
Tax Profit for the 9-months period at Group and Company level stood at
Rs. 1.671 billion and Rs.1.476 billion, which was a growth of 73 percent
and 67 percent over the corresponding period of the previous year.
This makes Access Engineering one of the very few companies which
delivered the expectations promised during the course of obtaining a
listing on the national bourse. Access Engineering also doubled its
turnover during the financial year 2011/2012 compared to 2010/2011.