Sri Lanka’s Expolanka Holdings June net up 21-pct

ECONOMYNEXT – Sri Lanka’s Expolanka Holdings said net profit rose 21% to 247 million rupees in the June 2018 quarter from a year ago helped by strong sales growth and wider margins.

Group sales rose 25% to 19.9 billion rupees in the period, according to interim results filed with the Colombo stock exchange.

Earnings per share were 13 cents. The share closed unchanged at four rupees Thursday.

Expolanka group chief executive Hanif Yusoof said gross profit rose 46% to 3.9 billion rupees.
“The GP margins saw a recovery during the quarter as compared to the margins recorded during the corresponding period last year,” he said.

Logistics, the largest contributor to the group, saw a 29% growth in sales, mainly owing to strong growth in the core air freight operations.

Ocean freight operations continued to perform to expectations reporting sustainable growth, Yusoof said.
(COLOMBO, 02 August, 2018)

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