Sri Lanka’s Aitken Spence Hotel Holdings December net up 38.5-pct

ECONOMYNEXT – Sri Lanka’s Aitken Spence Hotel Holdings said net profit rose 38.5 percent to 339 million rupees in the December 2018 quarter from a year ago.
Sales rose eight percent to 4.9 billion rupees over the period, interim accounts filed with the stock exchange showed.

Earnings per share for the December quarter were one rupee. The share closed unchanged at 26.10 rupees Monday.

The Aitken Spence Hotel Holdings group made a loss per share of 26 cents for the nine months to December 2018 with a net loss of 76 million rupees on sales of 12.4 billion rupees.

Six months of the period under review relates to the off season of the tourism industry both in Sri Lanka and overseas where the group operates, a note to the accounts said.

The group’s Sri Lankan hotels made a loss of 115 million rupees during the period while its overseas resorts, in the Middle East, Maldives and India, made a profit of 319 million rupees, lower than the year before.
(Colombo/Feb11/2019 – SB)

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