Aitken Spence continues strong performance; PBT up 42% in 1H

Chairperson Stasshani Jayawardena

Deputy Chairman and Managing Director Dr. Parakrama Dissanayake

Aitken Spence PLC has recorded a revenue of Rs. 40.7 billion for the six months ending 30 September 2025, reflecting operational resilience across its diversified businesses. 

The Tourism sector accounted for 64.3% of Group revenue, while the Maritime and Freight Logistics sector and Strategic Investments sector contributed 19.4% and 13.9%, respectively. The Group’s Maritime and Freight Logistics sector reported profit from operations (including the share of profits from equity-accounted investees) of Rs. 2.2 billion, making it the largest contributor towards Group profits in the first half of 2025/26. However, the sector recorded a marginal dip in its operational profits, mainly due to lower contributions from its equity-accounted investees in the South Asian region.

The profit from operations recorded by the Group’s Tourism sector for 1H 2025/2026 was Rs. 686.1 million, an 86.5% growth over that of the previous year. Strong occupancy recorded throughout the resorts in Sri Lanka, coupled with increases in rates, was the main driving force towards this growth in performance. Hotels in international markets, including the Maldives, also delivered a steady performance, although pressure from intensifying competition has somewhat affected the growth in occupancy.

The Group’s Strategic Investments sector recorded profits from operations (including the share of profits from equity-accounted investees) of Rs. 352.6 million. Within this sector, the printing segment delivered a robust performance with a two-fold increase in profits, reflecting the segment’s operational strength and market resilience. 

Conversely, the Garments segment continued to face challenges due to ongoing global economic pressures affecting the industry. Despite these headwinds, the sector as a whole remains a vital component of the Group’s overall portfolio, encompassing the Renewable Energy and Plantations segments, and plays a significant role in the Group’s strategic objectives and future growth initiatives.

The Group’s Services sector achieved a profit from operations (including the share of profits from equity-accounted investees) of Rs. 577.0 million, primarily driven by the recently commenced BPO operations in Port City Colombo.

The Group’s total Profit Before Tax (PBT) stood at Rs. 1.6 billion for the six months ending 30 September 2025, in comparison with Rs. 1.2 billion recorded in the corresponding period of the previous year, reflecting a 42% increase.

During 2Q, the Group continued to strengthen its performance across key sustainability indicators, including energy, water and resource management. In line with its commitments under the Science Based Targets initiative (SBTi), Aitken Spence has set a Group-wide target to reduce transport-related emissions by 20% from the 2024 baseline, pending SBTi validation. To support this goal, all business segments have begun developing and implementing targeted strategies and operational measures to drive measurable progress.

Through its waste-to-energy power plant, the Group has repurposed 90,273 metric tonnes of municipal solid waste this financial year, contributing directly to cleaner and more sustainable urban development in Colombo, while supporting low-carbon energy generation. Across operations, 58,276 cubic metres of rainwater were harvested, accounting for approximately 8% of total water consumption, reducing freshwater withdrawal and enriching soil systems.

Aitken Spence also represented Sri Lanka at the seventh UN Responsible Business and Human Rights Forum Asia-Pacific, held in Bangkok last month, reinforcing its commitment to business and human rights and illustrating its leadership in heading the Business and Human Rights Working Group of the UN Global Compact (UNGC) Sri Lanka Network. This engagement also reaffirms the Group’s continued commitment to embedding sustainable development principles across the value chain, serving as an active voice in the ongoing dialogue on sustainable and inclusive development.

The quarter was marked by notable achievements across the Group’s companies, including:

The South Asian Travel Awards (SATA) 2025 honoured the late Deshamanya Harry Jayawardena with a special tribute for his visionary leadership and contribution to the region’s hospitality industry.

Aitken Spence PLC and Aitken Spence Hotel Holdings PLC were recognised with the Sri Lanka Best Employer Brand Award by the World HRD Congress and World Leadership Congress.

Aitken Spence Hotels was recognised with three accolades, while Aitken Spence Travels was recognised with two awards at SATA.

Heritance Kandalama was the recipient of the Gold Award under the Climate Adaptation and Resilience category at the International Centre for Responsible Tourism (ICRT) Indian Subcontinent Responsible Tourism Awards 2025.

The Aitken Spence Hotels’ culinary team earned industry recognition for an outstanding performance at the Culinary Art Food Expo 2025.