Access Engineering 1Q results demonstrate sustainability

Monday, 11 August 2014 00:00 - - {{hitsCtrl.values.hits}}

Access Engineering PLC has announced that top line recorded a growth of 10.5% and 6.9% respectively at Company and Group level. Earnings attributable to equity at Company and Group level were Rs. 503 million and Rs. 545 million respectively. At Group level, 84%-owned subsidiary Sathosa Motors PLC and fully-owned subsidiary Access Realties Ltd. have contributed Rs. 44 million and Rs. 36 million respectively to the bottom line. The Company’s 30% owned Associate ZPMC Lanka Company Ltd., which commenced operations in September 2013, contributed Rs. 2 million to the bottom line in the quarter. The total asset base of the group stood at Rs. 20,353 million. Equity attributable to owners of the Company of Rs. 15,458 million at the Group level translates into a net asset per share of Rs. 15.46, a growth of 4% since 31 March 2014. The Earnings per Share for the quarter were Rs. 0.54 and Rs. 0.50 at the Group and Company levels respectively. Liquidity position of the Company has improved by 12% and 19% respectively at Company and Group level. The Board of Directors of AEL comprises Sumal Perera (Chairman), Christopher Joshua (Managing Director), Rohana Fernando (COO), Shevantha Mendis, Dharshana Munasinghe, Ranjan Gomez, Dilhan Perera, Professor Malik Ranasinghe, Niroshan Gunarathna and Alexis Lovell. Caption Access Engineering Plc Chairman Sumal Perera

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