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Sri Lanka’s Aitken Spence Hotel Holdings December net up 7.8-pct

ECONOMYNEXT – Sri Lanka’s Aitken Spence Hotel Holdings said December 2016 quarter net profit rose 7.8 percent to Rs405 million from year ago.

Sales during the December quarter rose 32 percent to Rs4.4 billion over the period, according to interim resulrs filed with the stock exchange.

Earnings per share for the quarter were Rs1.19. Aitken Spence Hotel Holdings’ share was traded at Rs40.10 during mid-day Tuesday.

Aitken Spence Hotel Holdings’ EPS for the nine months ended 31st December 2016 was 14 cents, with net profit down 93 percent to Rs57 million, while sales rose 17 percent to Rs10.4 billion.

The accounts showed that the group’s Sri Lankan hotels made a pre-tax loss of Rs18 million compared with Rs536 million pre-tax profit the year before.

The group’s South Asian and Middle East sector pre-tax profit halved to Rs452 million from Rs921 million the year before

Six months of the period under review related to the off season of the tourism industry both in Sri Lanka and overseas, where the group operates, a note to the accounts said.
(COLOMBO, Feb 14, 2017)

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