Sri Lanka’s Aitken Spence net down 56-pct
ECONOMYNEXT – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power said profits fell 56 percent to 608 million rupees in the March 2016 quarter from a year earlier, but long term investments are being made.
Earnings per share for the quarter fell `1.50 rupees per share. For the year to March earnings per share was 4.99 rupees on total profits of 2.02 billion rupees which was down 43 percent.
A power purchase agreement with a power plant operated by the group has ended but after the balance sheet the deal was renewed for another year.
The group said it had invested 10 billion rupees in new ventures in Sri Lanka and overseas and another 2.8 billion rupees in plant. (Colombo/May31/2016)