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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Expolanka posts Rs 287m PAT for Q4

Expolanka posts Rs 287m PAT for Q4

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1Expolanka posts Rs 287m PAT for Q4 Empty Expolanka posts Rs 287m PAT for Q4 Mon Jun 01, 2015 8:55 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Expolanka Holdings posted a revenue of Rs 13. 9 billion for the final quarter of the financial year 2014/15 with a growth of 14 percent compared to the corresponding quarter of the previous year. Profit after tax reached Rs 287 million for the final quarter of this year recording a growth of 181 percent in comparison to the corresponding quarter of the previous year.

“A year after implementing the strategic restructuring plan and striking a partnership with SG Holdings Japan, we are pleased with the progress and confident about our future.The solid platform built with the synergy gained from our partnership with SG Holdings Japan and the focused restructuring strategy will result in aggressive growth in the coming years,” Expolanka Holdings Group CEO and Director, Hanif Yusoof said.

The strategic restructure was undertaken with the aim of focusing the Group attention on core business sectors, Freight and Logistics and Travel and Leisure.In spite of the positive growth during the final quarter of this financial year, the Group’s net profit declined to Rs 1 billion from Rs 1.5 billion recorded during the financial year 2013/14 mainly due to one off gains recorded in the previous year related to divesting several non-core businesses.

Freight and Logistics sector posted a revenue of Rs11.9 billion for the fourth quarter indicating a healthy growth of 36% from the recorded revenue of Rs 8.7 billion during the same period last year. Strong performance from North America Trade lane coupled with steady growth in Asia trade lane supported this growth. The Net Profit for the sector reached Rs 407 million for the quarter which is a 100% growth compared to similar period last year.

Travel and Leisure sector posted a revenue of Rs 747 million for the financial year 2014/15 demonstrating a healthy growth of 31% from the recorded revenue of Rs 568 million during the same period last year. “We are confident in achieving sustainable growth and I believe that our well defined plans will continue to bear fruit in the future,” Yusoof added.
Courtesy: Daily News 01 June 2015

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