Expolanka Holdings Sept quarter net profit up 196-pct
ECONOMYNEXT – Expolanka Holdings, a Sri Lankan logistics firm controlled by Japan’s SG Holdings, said September 2015 quarter net profit rose 196 percent to 397 million rupees from a year ago.
Sales rose almost eight percent to 13.9 billion rupees, interim results filed with the stock exchange showed.
Earnings per share for the September quarter rose to 20 cents from seven cents.
“The quarter’s positive results were mainly driven by the sustained performance of the Indian sub continent region,” Hanif Yusoof, Expolanka Group chief executive, said in a stateemnt.
“The US trade lane continues to deliver healthy growth in volumes along with better yields supported by key customer performance.”
Yusoof said the East Asian market too performed well with healthy volume growth in airfreight business.
Vietnam, Indonesia, Hong Kong and China recorded “notable performances” contributing to the overall growth in the sector, he added.
Expolanka EPS for the six months ending 30 September 2015 doubled to 32 cents from the year before with sales up 10 percent to 27.8 billion rupees from the year before.
“The positive results indicate the concentrated efforts on business growth in the Group’s core sectors including operational efficiencies and restructuring efforts,” Yusoof said.
(Colombo/November 12 2015)