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Sri Lanka’s Expolanka December net down, ventures into contract logistics

ECONOMYNEXT – Sri Lanka’s Expolanka Holdings net profit fell five percent to 345 million rupees in the December 2015 quarter from a year ago with the group increasing its value added services by venturing into contract logistics and warehousing.

December quarter sales rose six percent to 14 billion rupees, interim results filed with the stock exchange showed.

Expolanka, in which Japan’s SG Holdings Global has 51.43 percent, reported earnings per share of 18 cents for the December 2015 quarter.

In the nine months to 31 December 2015, EPS was 49 cents with net profit up 44 percent to 964 million rupees while sales rose almost nine percent to 42 billion rupees.

Expolanka group chief executive Hanif Yusoof key trends driving growth in the industry include increased outsourcing of logistics, greater reliance on technology, and globalization of supply chains.

“To capitalize on these trends we ventured into contract logistics and warehousing and thereby increased our offering with value added services that are consistent with our business model,” he said.

“Today contract logistics is supporting us to secure new customers and provide total solutions and has given us the much needed foothold to dominate as a regional player in supply chain.”

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