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Sri Lanka’s Expolanka Holdings March net up 21-pct

ECONOMYNEXT – Sri Lanka-based Expolanka Holdings, an international logistics company, said group profits rose 21% to Rs309 million in the March 2018 quarter from a year earlier.

Quarterly sales of the firm, controlled by Japan’s SG Holdings, rose 24% to Rs18.8 billion over the period, according to interim accounts filed with the stock exchange.

Earnings per share for the quarter were 16 cents. Expolanka shares were trading at Rs4.60, up 10 cents or 2.2% Friday.

EPS for the year to 31 March 2018 were 36 cents with net profit down 26% to Rs711 million from the previous year although sales were up 22% to Rs77.5 billion.

Annual profits from the group’s main logistics business were down despite a big increase in sales with profit from the leisure sector also down along with a sharp fall in sales while investment segment losses were lower, the accounts showed.

(COLOMBO, June 01, 2018)

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