Sri Lanka’s Aitken Spence net down 19-pct in Dec 2014 quarter

COLOMBO (EconomyNext) – Profits at Sri Lanka’s Aitken Spence group, which has interests in leisure, logistics and power fell 19 percent from a year earlier to 869 million rupees in the December 2014 quarter, interim accounts showed.

The group reported earnings of 2.14 rupees per share for the quarter.

For the 9 months to December it reported earnings of 5.41 rupees per share, on total profits of 2.1 billion rupees, which fell from 2.3 billion rupees a year earlier.
Aitken Spence has hotels in Sri Lanka, the Maldives, India and Oman.

In the 9-months profits from the tourism sector rose marginally to 2.0 billion rupees from 1.99 billion. The firm said it was in the process of building two hotels in Sri Lanka.

Profits logistics fell to 416 million rupees from 441 million. The firm said it saw profits from port operations in Fiji.

Profits from a sector it called services, which includes printing and apparel well to 86 million rupees from 123 million rupees.

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