Expolanka Holdings Group PBT down 6% - 1Q, 2016/17
Expolanka Holdings PLC has achieved a revenue growth of seven per cent
year-on-year (YoY), thereby increasing its revenue for the first quarter of the
2016/17 financial year (1Q, 2016/17) to Rs. 14,956 million.
|
Hanif Yusoof |
According to unaudited figures released to the Colombo Stock Exchange (CSE), the
company also improved its Operating Profit (which excludes other incomes and
finance cost) by 20% YoY to Rs. 400 million, for the three months which ended on
30th June, 2016.
As a result of non-cash write down in passive investments held at the Group
level, the Group Profit Before Tax (PBT) for the quarter was Rs. 378 million – a
decrease of six per cent YoY. The profit attributed to the equity holders for
the quarter too declined by 18% YoY to Rs. 182 million.
“The strategic focus on growth sectors has delivered a resilient financial
performance in the first quarter of 2016/17 even amidst challenges,” Group CEO
Hanif Yusoof said. Expolanka Group, which now operates in the three spheres of
logistics, leisure and ventures, after divesting its non-core assets to focus
greater on growth sectors, experienced top line growth in logistics and leisure
during the first quarter of the 2016/17 financial year.
In Logistics, the Group increased its revenue by five per cent YoY to Rs. 12,405
million for the quarter.
The Leisure sector experienced Revenue growth of 64% YoY, improving its top line
to Rs. 1,383 million with the Group’s outbound business travel operations
recording positive results, building further on the growth that the sector
showed throughout last year. Expolanka Holdings will continue to focus its
attention towards growing the Leisure Sector.
The Ventures sector recorded a revenue of Rs. 1,167 million during the quarter.
Non-recurring charge of Rs. 48 million related to restructuring cost affected
the PBT of the segment.
Expolanka Holdings PLC has been in operation since 1978 and has a workforce of
over 2,800 employees. Headquartered in Colombo, Sri Lanka, the Group’s network
spans more than 20 countries in Asia, Africa, USA and the Middle East. |
