Sri Lanka’s Access Engineering March net up 31-pct

ECONOMYNEXT – Sri Lanka’s Access Engineering Plc, a construction group, said profits in the March 2017 quarter rose 31 percent to 831 million rupees from a year earlier.

Sales rose 14 percent to 5.2 billion urpees in the March quarter, according to interim accounts filed with the stock exchange.

Quarterly earnings rose 30 percent per share to 83 cents from 64 cents. The share last traded at 26.30 rupees.

EPS for the financial year ended 31 March 2017 rose 9.3 percent to 2.70 rupees, with annual net profit at 2.7 billion rupees, while sales rose 16 percent to 20.4 billion rupees.
The increase in annual profits came mainly from the construction business, with profit from its Sathosa Motors subsidiary, which holds the franchise in Sri Lanka for Isuzu Motor vehicles, falling.
(COLOMBO, May 19, 2017)

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