Exterminators achieves best 1Q since inception

Wednesday, 17 August 2022 00:00 - - {{hitsCtrl.values.hits}}

Pest management and environmental technology specialists Exterminators Plc., said yesterday it has achieved the best first quarter during 1 April to 30 June 2022 since the company’s inception.

Chairman Chaaminda Ratnayake

Managing Director Marlon Ferreira

It said revenue increased by 26% to Rs. 30 million, gross profit by 20% to Rs. 22.5 million, operating profit by 13% to Rs. 4.8 million, profit before tax by 84% to Rs. 6.7 million with the support of Rs. 2.2 million as finance income, net profit by 49% to Rs. 4.9 million and the comprehensive income by 991% to Rs. 36 million in the 1Q of the financial year 2023.

The earnings per share increased by 12% and the net assets per share increased by 27% in the 1Q of the financial year 2023 even during the prevailing crisis. The total dividend payout for FY22 was Rs. 0.16 per share, which is 29.7% of the PAT, the company will issue the final dividend payment of Rs. 0.07 per share in early September.

Exterminators currently operates with three branches in Colombo, Kandy and Dambulla. The company aims to expand its network by setting up branches in Hambantota, Galle and Jaffna to capture opportunities within these areas of potential future development while setting up a premier Customer Centre in the heart of Colombo. The company will also franchise its business to the Northern and Eastern Provinces. The company has identified opportunities in Maldives with many leisure sector establishments requiring pest control services.

“We carved a unique niche within the industry as an environmental management company which extends its services beyond the realms of pest control. As a growth oriented business we hope to explore market development strategies by venturing across borders with global expansion,” Chairman Chaaminda Ratnayake said.

“As a proactive company with an entrepreneurial mindset, we reacted to the unfolding events in a positive and proactive manner, always bearing in mind that crises create opportunities to challenge and change the status quo for a better future,” added Managing Director Marlon Ferreira.