MTD Walkers profits up 91%, continues growth trend

Integrated infrastructure and engineering solutions provider MTD Walkers PLC announced its sixth consecutive year of 39.1% compound annual revenue growth, ending the year posting a 91.0% growth in profit after tax. MTD Walkers PLC for the year ended 31 March posted Rs. 1.148 billion profit after tax on a Revenue of Rs. 14.014 billion, up from Rs. 10.092 billion last year. 

“As we head into a new financial year, we are confident that our interest in the fields of infrastructure related diversification and continued focus on our core areas will yield us strong growth across our businesses as we look to maintain and build on our industry leading position,” says MTD Walkers PLC Executive Deputy Chairman Jehan Amaratunga. 

MTD Walkers PLC recently acquired Wincon Development Ceylon Ltd, a property development company registered with the Board of Investment of Sri Lanka, for the purpose of residential property development for both public and private sector. “Acquiring this through the Rs. 2.4 billion rights issue completed in Q4 2015 has completely restructured our balance sheet and we are now ready to support our planned diversification strategy in property development and marine engineering,” adds Amaratunga. 

“Despite the market remaining competitive and challenging, the company continued to deliver consistent growth and an increase in Profit after Tax from 6.0% in 2014 to 8.2% in 2015. To ensure our long-term sustainable success we invested in effective management, cost control measures, innovative engineering and building capabilities of our people,” says MTD Walkers PLC Group Chief Financial Officer Viraj De Silva.

As a consolidated result of their efforts MTD Walkers PLC were able to achieve higher EBIT and NP margins compared to the corresponding 12 months of the previous financial year whilst marking the most outstanding financial performance market by the Group in the 161 year history.