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| Sunday, 11 December 2005 |
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Business |  |
| News Business Features Editorial
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United Motors profit after tax up 150% to Rs. 105.6 million United Motors has completed a successful half year ended September 30, 2005 in terms of revenue and profitability. Chairman of the company, M. J. C. Amarasuriya, in his half yearly review said that the parent company United Motors Lanka Ltd (UMLL) recorded a turnover of Rs. 1,275.2 million, an increase of 40.8% over the first half of the last financial year and a Profit After Tax of Rs. 105.6 million which is an increase of 150% over the corresponding period of last year. The subsidiary companies collectively earned a profit of Rs. 13.8 million for the Group. The Consolidated Profit After Tax of Rs. 119.4 million was 183% above that of the first half of the previous financial year, this being the highest recorded profit for any financial year. Despite last year's phenomenal increase in import taxes which pushed vehicle prices up by 30 to 60%, the company fared exceptionally well on account of its strong marketing in the growing commercial segments and successful cost management strategies. After sales service also recorded substantial growth with spare part sales improving over the first half of last year by 21.5% and revenue from repairs and services at the company's state-of-the-art workshop, increasing by 33.2%. The business volumes of Valvolene lubricants and car care products have also doubled during the period. TVS Lanka Ltd. fared considerably better in the first half of 2005/06,
achieving a PAT of Rs. 41.3 million as against Rs. 4 million earned in the
first half of last year. |
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| Produced by Lake House |
