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Sri Lanka’s Expolanka March net profit up 70-pct

ECONOMYNEXT – Sri Lanka’s Expolanka Holdings said March 2017 quarter net profit rose 70% to Rs255 million from a year ago.

Quarterly earnings per share of the firm, now controlled by Japan’s SG Holdings, rose to 13 cents from 08 cents over the period,

Group March quarter sales were up 8% to Rs15.2 billion with other income up sharply as were finance costs, according to interim accounts filed with the stock exchange.

Annual EPS was 49 cents with net profit down 14% to Rs955 million although sales went up 13% to Rs63.5 billion.

The accounts showed the group’s main logistics business profit went up only 4% to Rs1.7 billion during the year despite 15% sales growth.

But the group’s leisure business profit shot up 184% to Rs203 million on 12% sales growth.
(COLOMBO, May 30, 2017)

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