Wednesday Apr 24, 2024
Wednesday Apr 24, 2024
Thursday, 21 January 2021 02:11 - - {{hitsCtrl.values.hits}}
Expolanka Holdings PLC yesterday soared to being the fourth most valuable stock thanks to sustained gain in its share price over the medium term.
With a gain of Rs. 1.30 or 2.6% to Rs. 51.30, Expolanka was worth Rs. 100.28 billion. It is behind CTC, JKH and LOLC in terms of value.
Being a consistently sought after stock, Expolanka saw 13 million of its shares change hands via 2,500 trades for Rs. 666.6 million.
Expolanka closed the fourth quarter of 2020 with a 152% gain to Rs. 29. Nearly 23 million of Expolanka shares were traded for Rs. 1.12 billion in the last quarter. It ended 2020 as 13th most valuable with Rs. 56.7 billion.
Investor interest on Expolanka has been on its phenomenal financial performance thanks being on the right side of the COVID-19 pandemic – logistics.
Fuelled by surging demand for emergency supplies via air freight into North American markets, Expolanka Group revenue expanded by 71% Year-on-Year (YoY) to Rs. 49.1 billion while Group Profit After Tax (PAT) registered an outstanding Rs. 4.5 billion for the second quarter.
Growth in the logistics sector was attributed to key strategic initiatives undertaken by the company in addition to its ability to pivot to opportunities in the market, particularly in response to the need for emergency medical supplies and Personal Protective Equipment (PPE) essential to combatting COVID-19 on extremely tight schedules.
“With economies tentatively opening up, regular business was starting to return by the end of the quarter while PPE orders were gradually easing. However, the company stands fully geared to service new opportunities which may present itself in such an evolving environment,” Expolanka said in its press release on the results in November 2020.
Expolanka Holdings is part of the SG Holdings Group, a leading logistics group in Japan. With interests in Logistics, Leisure and Investments, the company has successfully expanded its presence to cover 23 countries and over 60 offices across Asia, Africa, Europe, Middle East and the US.
