Expolanka Holdings posts Rs. 335 mln post-tax profits for Q1
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Hanif Yusoof
Expolanka Holdings PLC said it sustained its consolidated post tax profit for the first quarter of 2012/13 at Rs. 335 million.
Group CEO of Expolanka Holdings PLC, Hanif Yusoof said “more focus was given towards consolidating our existing businesses with investments in Freight and Logistics and Travel & Leisure. Our sustained growth strategies have yielded in a 24 per cent growth in our revenue which has seen our revenue levels growing from Rs. 8.4 billion to Rs. 10.4 billion”.
During the quarter the group acquired a few strategic and synergistic Investments. In particular, Akquasun Holidays India and Expo Freight USA had notable positive impact on the consolidated revenue as well as on the overall profit levels of the company during the quarter under review, according to a company media release.
In the freight and logistics sector, the company had initiated investments in North America, China and Hong Kong. A drop of nine per cent in operating profit was noted in this sector in comparison to the first quarter of the previous year. This was partially as a result of costs incurred for both infrastructural development and process improvements with a view to take our core sector to the next level, it said.
In the travel and leisure sector, growth was recorded both in its revenue and profit levels. The increase in revenue was mainly due to the inclusion of newly acquired company, Akquasun Holidays India, a leading destination management company with notable global presence. The operating profit of this sector increased significantly from Rs. 15 million to Rs. 61 million.
“Inbound operations of this sector performed well and significant contributions were made particularly from Akquasun Holidays India,” the statement said.
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