Expolanka 3Q PBT up 14% to Rs. 563 m

Tuesday, 16 February 2016 00:57 - - {{hitsCtrl.values.hits}}

Expolanka recorded a Profit Before Tax (PBT) of Rs. 563 million for the third quarter of the financial year posting an overall profit growth of 14% in comparison to the corresponding period of the previous financial year.

The recorded profit attributable to equity holders for the third quarter was Rs. 344 million. The recorded PBT for the nine months that ended in December 2015 was Rs. 1.6 billion with an overall profit growth of 69% in comparison to the corresponding period last year.

Commenting on the positive results, Expolanka Holdings PLC Group CEO Hanif Yusoof said: “In last financial year we took several DFT-1-22 strategic steps to ensure the sustainable growth of our business. These positive results indicate the effectiveness of our concentrated efforts on business growth in the Group’s core sectors including operational efficiencies and restructuring efforts.”

The Group’s core sector Freight and Logistics recorded a revenue of Rs. 35 billion and a revenue growth of 23% for the nine months ended in December 2015 in comparison to the corresponding period of the previous financial year. The positive results were fueled by steady performance of the Indian subcontinent and the strong contribution of the East Asian markets namely countries such as Vietnam, Indonesia, Hong Kong and China.

The Travel and Leisure sector continued to show positive signs during the period recording a revenue of Rs. 2.8 billion for the nine months ended in December 2015. Both Inbound and Outbound operations performed well, posting a high level of growth.

Inbound operations has kept up the momentum gained in the last quarter to post better results in comparison to the corresponding quarter of the previous financial year. Expolanka’s Inbound business in particular shows better volume growth in the aftermath of the Company restructuring effort that took place during the previous year.

The International Trading & Manufacturing sector recorded a revenue of Rs. 3 billion for the nine months ended in December 2015. In this sector, both the perishable goods business and the food processing business has performed well and shows potential to perform even better in the next quarter.

“Each sector in the Group has contributed to the positive growth of this quarter. We hope to capitalize on this growth to build a solid platform for future performances. We have already identified and implemented measures such as more focused investments on developing IT-enabled business growth to seize greater growth opportunities,” commented Yusoof.