Sri Lanka’s Expolanka net up 28-pct in June quarter

Aug 06, 2015 (LBO) – Group profits at Expolanka Holdings with interest in logistics rose 28 percent to 222 million rupees in the June quarter from a year ago showing strong growth in freight and logistics business, the company said in a stock exchange filing. Earnings per share rose to 11 cents in the quarter from nine cents in the same period last year. The Group sales rose 12 percent to 13.9 billion rupees. Revenues from the freight and logistics sector for the June quarter rose 36 percent to 11.7 billion rupees from the previous year while profit from the sector rose 84 percent to 317 million rupees. The groups travel and leisure sector profits went up three percent to 51 million rupees. Group chief executive Hanif Yusoof said that they are optimistic about our growth opportunities within this financial year and in the current business year and will concentrate on achieving higher profitability and continued growth in all business units. We have achieved a steady growth in this quarter, indicating potential for further progress in the near future, he said. The statement said that Bangladesh in particular showed positive results and a healthy margin growth in comparison to the disappointing performance during the last two quarters. “The group’s core markets in India and Sri Lanka performed well fueled by the healthy growth in US trade lanes,” “Far East businesses such as Indonesia and Vietnam continued to maintain the momentum from last two quarters and generate healthy revenue. Cost rationalization conducted during last year in USA, Dubai and Bangladesh have begun to indicate positive results.”