Abans achieves Rs. 18.87 b revenue in 1H

Thursday, 11 December 2014 00:00 - - {{hitsCtrl.values.hits}}

Abans, the country’s largest consumer durable giant, in a statement said it had a strong second quarter showing by its electrical and retail companies in the year, recording growth of 16% over the previous year. The growth amount includes its central air conditioning company and its transport company. Gr

owth was significant in its transport section by 96%, its air conditioning products by 14.64% consumer electronics by 12.75%, IT products by 24.23%, sanitary-ware by 121% and communication products by 23.9%. The company continues to make big advances in consolidating its position in IT products representing Apple, HP, Dell, Lenovo, Toshiba, LG and Panasonic. Hero Motor Cycles, which was started two years ago, enjoys the No. 2 position for its products in Sri Lanka. The Abans Central Air Conditioning Division representing Mitsubishi, Trane and LG continues to have the largest turnover of any air conditioning company in Sri Lanka. Abans has heavily spent on refurbishing and renovating its showroom network, has enhanced its SCM/POS systems and continues to lead the market as the largest retailer of IT and communication products in Sri Lanka. Abans Finance too increased its profitability by 33% in 2014. The Rs. 18.87 billion revenue for the first half of the 2014/15 financial year excludes its restaurant, security, cleaning and affiliated businesses.