Aitken Spence records strong 1H performance with PBT up 71%

Drawing on the strength of its diversified portfolio, Aitken Spence PLC said yesterday it  recorded a Profit Before Tax (PBT) of Rs. 2.8 billion for the six months ended 30 September 2026, an increase of 71.4% over the corresponding period of the previous financial year.

Earnings before interest expenses, tax, depreciation and amortisation (EBITDA) increased by 20.6% to Rs. 10.1 billion. Furthermore, the Group’s revenue for the period amounted to Rs. 41.7 billion, while the Profit After Tax (PAT) recorded a 229% increase to Rs. 1.4 billion. 

The Maritime and Freight Logistics sector remained a key contributor to Group earnings, recording PBT of Rs. 3.3 billion while the sector’s revenue saw a 20% increase to Rs. 9.5 billion. The performance was supported by stronger contributions across the maritime, integrated container operations and freight businesses, driven by higher volumes, improved freight rates and favourable market conditions. Both local and overseas airline segments fared well. The bunkering operation recorded a significant increase in profits during the period supported by higher oil prices. Overseas port operations  reported improved profitability with increased domestic and transshipment throughput. 

The Tourism sector recorded revenue of Rs. 26 billion during the period, while the sector result, a loss of Rs. 1.6 billion, was impacted by occupancy pressures and higher operating costs in the Maldives. Improved room rates provided some support, alongside stronger margins in Sri Lanka and growth in passenger volumes and contribution at Aitken Spence Travels.

The Strategic Investments sector recorded revenue of Rs. 5.3 billion, with PBT reflecting a loss of Rs. 326 million for the period. Power Generation was impacted by planned maintenance-related disruptions at the waste to energy plant and due to an overhaul being carried out at a hydro-power plant which was affected by cyclone Ditwah. Printing and Packaging recorded improved performance for the six months, while Plantations reported higher profitability, despite lower tea prices affecting second-quarter performance. The apparel segment continued to report losses with global economic challenges and productivity issues. As a strategic move the Group divested its equity interest in a subsidiary comprising three production facilities, after the balance sheet date. 

The Services sector recorded a PBT of Rs. 1.5 billion with a noteworthy increase of 179% and alongside a revenue of Rs. 998 million. The performance during the quarter was supported by Group’s equity-accounted Port City BPO venture which reported strong growth and gains from the disposal of an investment property during the period.

In a statement Aitken Spence said beyond financial performance, the Group continued to advance its sustainability strategy during the first half of the year prioritising impact control over energy, water, emissions, effluents, solid waste, resource and land use and ecosystem conservation. In addition to the Group’s effort to reduce direct emissions, a total of 97,994 MT metric tonnes of municipal solid waste was repurposed from the western province through the Group’s waste-to-energy operations, continuing the Group’s systemic contribution to keeping our cities clean. At other operations, 29,272 cubic meters (m3) of rainwater was harvested to support water security efforts. The Group continued to strengthen the systems and processes supporting its sustainability, climate resilience and disaster risk reduction programmes, while progressing its net-zero strategy.

During the second quarter of FY 2026/27, several notable developments took place across the Group’s portfolio. Aitken Spence Hotel Holdings PLC’s maiden listed, rated, unsecured, senior redeemable debenture issue, which opened on 15 September 2026, was fully subscribed on its opening day, attracting applications for the entire Rs. 5 billion on offer. The debentures were subsequently listed on the Colombo Stock Exchange in October.

In the Maldives, all five Aitken Spence Hotels properties secured Green Globe recertification, with each resort recording an improvement in its compliance score compared to 2024. Meanwhile, Rainforest Ecolodge, was recognised by the Sri Lanka Tourism Development Authority as the country’s first officially classified ecolodge and holding LEED Platinum certification, received Silver in the Nature Positive category at the ICRT Indian Subcontinent Awards 2026, recognising its contribution to responsible tourism, biodiversity conservation and community engagement.

Further recognition came through the Sri Lanka Sustainability Awards 2026, where Aitken Spence Logistics was named Sustainable Logistics Provider of the Year, acknowledging its integration of sustainability into its operations.

As part of its community engagement efforts, Aitken Spence Travels undertook the restoration of the library at Gangasiripura Kanishta Vidyalaya in Gampola, through its Pure Path sustainability platform and Nurturing Lilies programme, following damage caused by Cyclone Ditwah. The initiative has restored an important learning facility serving more than 1,400 students.