Exterminators ups 2Q net profit by 120%

Monday, 21 November 2022 00:27 - - {{hitsCtrl.values.hits}}

Chairman Chaaminda Ratnayake

Managing Director Marlon Ferreira

Exterminators PLC has announced impressive results for the second quarter ended on 30 September 2022.

Revenue increased by 58%, gross profit by 50%, operating profit by 67%, profit before tax by 90%, net profit by 120%, earnings per share increased by 67% and the net assets per share increased by 29% even during the prevailing crisis. The comprehensive income increased by 530% in the 1H of FY23. The company made a scrip dividend to capitalise reserves by issuing 2,852,459 ordinary voting shares at the proportion of 1 share for every 17.5287357329 shares, amounting to Rs. 17.4 million in September 2022.

Chairman Chaaminda Ratnayake said: “Our long-term sustainability and resilience as an institution is the result of not only successfully executing our strategy but also more importantly building a strong foundation of compliance. Guided by our values we have consistently focused on achieving excellence in compliance.”

Managing Director Marlon Ferreira said: “We plan to move across borders throughout emerging and developing markets to colonise our proven, recognised brand and business model to help communities to enhance living standards. In South Asia, Southeast Asia, Central Asia, Middle East, Africa and pacific island nations via direct investment, joint ventures, and international franchising. We are a participant of the ‘United Nations Global Compact’ the world’s largest corporate sustainability initiative.”

Holding a legacy of over 24 years, as a specialised pest management service provider, Exterminators emphasise heavily on designing, developing, inventing, reinventing and articulating environmentally sustainable and customer centric smart and novel pest management solutions, processes and technologies.

“Exterminators carefully plans out its strategic objectives and executes these with precision, to strengthen its position within the industry while addressing challenges such as improving productivity and being agile in an ever-changing dynamic business landscape,” the company said in its statement.