Expolanka Holdings posts Rs. 1,319 m PBT

Expolanka Holdings PLC recorded a consolidated Group Profit Before Tax of Rs. 1,319 million for the first nine months, an increase of 11 percent over the corresponding period of the previous year. The third quarter Group Profit Before Tax reached Rs. 311 million. The Group Profit attributable to the equity shareholders of the parent company recorded two percent growth for the first nine months.

The revenue of Rs. 35.02 billion in the first nine months of the financial year 2012/13 represented an increase of 43 percent over Rs. 24.51 billion recorded in the corresponding period of the previous year.

Quarter revenue grew to Rs. 11.98 billion which was a 61 percent growth over 7.44 billion recorded in the quarter for the previous year.

The revenue levels for the first nine months of the Freight and Logistics, the core sector, grew by 63 percent over the previous year driven by an increase in freight rates.

The Sector Profit Before Tax of Rs. 326 million for the Quarter and Rs. 1,094 million for the first nine months was an increase of 20 percent and seven percent over the corresponding periods in the previous year. Satisfactory growth in freight volumes has been achieved despite challenges faced in European markets.

The Travel and Leisure Sector Profit Before Tax for the first nine months reached Rs. 83 million, 105 percent growth over the previous year. The revenue levels for the first nine months recorded 287 percent growth. The revenue growth was primarily driven the new investment into Akquasun, a Global Destination Management Company. The Outbound and Ticketing arm made significant contribution to the bottom line. The focus in this sector will be to drive volume growth while increasing operational efficiency.

The International Trading and Manufacturing Sector sustained revenue levels amid a challenging economic environment in its key markets.

The year-to-date revenue levels recorded a five percent growth over last year-to-date results. The Profit Before Tax for the first nine months has declined from Rs. 103 million to Rs. 90 million.