Tuesday Aug 18, 2026
Tuesday Aug 18, 2026
Tuesday, 18 August 2026 09:54 - - {{hitsCtrl.values.hits}}
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| Executive Chairperson and Interim Managing Director Stasshani Jayawardena |
Aitken Spence PLC yesterday said that it began the financial year 2026/27 with strong earnings momentum, recording a 74% increase in Group Profit Before Tax (PBT) to Rs. 1.7 billion for the quarter ended 20 June 2026.
With a portfolio spanning diverse industries and geographies, the Group posted a Profit After Tax (PAT) increase of by 158% to Rs. 1 billion, while Group EBITDA increased by 23% to Rs. 5.3 billion compared to the corresponding period of the previous year, reflecting stronger underlying operating performance across the Group’s businesses.
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The Group’s improved profitability during the quarter was driven by other operating income and stronger contributions from equity-accounted investees. Profit attributable to equity holders for the first quarter of FY2026/27 amounted to Rs. 1.5 billion, reflecting an increase of 172% compared to the corresponding period last year. Notably, the Port City BPO venture, bunkering operations, and overseas port management business delivered enhanced performances, making a significant contribution to the Group’s earnings during the period.
The Group’s maritime and freight logistics sector was a key contributor to the quarter’s performance, with PBT increasing by 58.2% to Rs. 1.7 billion. The improvement was primarily driven by higher volumes handled by the Group’s liner operations, together with stronger performances from overseas port management, freight forwarding and container services.
The Group’s tourism sector recorded a PBT loss of Rs. 1 billion for the quarter, primarily reflecting softer demand from the UK and European source markets amid geopolitical uncertainties in the Middle East. The impact was partially cushioned by improved performances from the destination management and airline GSA businesses, which continued to strengthen their contribution to sector earnings.
The Group’s strategic investments sector delivered a strong turnaround during the quarter, reporting a PBT of Rs. 650 million compared to a loss in the corresponding period last year, led by enhanced operational results and favourable foreign exchange gains.
The Group’s services sector recorded a marked improvement, with PBT increasing by 64.8% to Rs. 452 million. The stronger performance was driven substantially by improved results from the Group’s equity-accounted Port City BPO venture, which made a significant contribution to the sector during the quarter.
The first quarter performance reflects positive earnings momentum across the Group, with stronger contributions from key businesses supporting overall profitability amid varied operating conditions across sectors and markets. The Group remains focused on building on this performance as the financial year progresses.
Creating value beyond its operations, the Group repurposed 44,490 MT of municipal solid waste and harvested over 5.5 million cubic metres of rainwater during 1Q. The Group continued to strengthen the systems and processes underpinning its sustainability, climate resilience and disaster risk reduction programs, while actively engaging with public and private sector stakeholders to advance its net-zero strategy and explore practical de-carbonisation opportunities.
