MTD Walkers posts impressive growth of 413% since 2010

Monday, 2 June 2014 00:00 - - {{hitsCtrl.values.hits}}

Notching an extraordinary financial performance that is surely reflective of the burgeoning infrastructure development around the country, Sri Lanka’s seventh oldest company MTD Walkers PLC closed its financial year not only quadrupling its revenue since 2010, but also reaching the milestone of Rs. 10 billion for the first time in its 160 year old history. Posting an impressive Gross Profit of Rs. 2.14 billion and Profit before Tax of Rs. 748.3 million, the Group which comprises five subsidiaries namely CML-MTD Construction, Walkers Piling, Northern Power Company, Walker Sons & Company Engineers and Colombo Engineering Services has good reason to celebrate its 160 years since incorporation. Quoted on the Colombo Bourse and having expanded its purview into multi-disciplinary engineering activities both in Sri Lanka and overseas, MTD Walkers’ EBIT is also posted at a noteworthy Rs. 1.41 billion.

“The year has truly been a remarkable one,” enthuses Group Deputy Chairman Jehan Amaratunga. “Given our impressive results this year, the Group expects to double performance next year and given the aggressive infrastructure milieu we are seeing at present and the expertise we have within our Group, that target is surely achievable.” He elaborates that in these past four years, MTD Walkers has not only opened chapters and rewritten them, but also become a successful case study and a model icon for corporate Sri Lanka to emulate. “The simple recipe that has been our mantra has been three key phrases, Improve Productivity, Innovate Cost Saving Measures and Pursue Excellence.” Having posted consistently impressive results and constructing a foundation that has surely positioned the Group among the topmost infrastructure partners in the nation’s development quest, MTD Walkers was recently invited by the Colombo Stock Exchange to showcase the Group at its Investor Forum in London. Engaged in large scale civil, mechanical and engineering, pile construction, power generation, building services and the manufacture of machinery for the tea industry, MTD Walkers has been involved in some of Sri Lanka’s most landmark infrastructure projects. The Group, regarded as one of the best contractors in road development, has gained significant fillip and stature by winning the contract to develop part of the Hambantota Hub Roads, in addition to having several other key projects in the pipeline.