Expolanka’s core business in India, Bangladesh and Sri Lanka improves in 1Q2016
View(s):Expolanka Holdings has reported a revenue of Rs. 13. 9 billion and a pre-tax profit (PBT) of Rs. 400.7 million for the first quarter of the financial year 2015/16. “Our group has only just started to reap the benefits of our strategic restructuring efforts. Within the last two years we embarked on a steady path of sustainable growth with particular focus and investments on our core sectors, Freight & Logistics and Travel & Leisure. As a result, we have achieved a steady growth in this quarter, indicating potential for further progress in the near future,” noted Hanif Yusoof, Group CEO and Executive Director, Expolanka Holdings PLC, in a media release issued by the group.
Earnings from the Freight & Logistics sector for the first quarter showed a revenue of Rs. 11.7 billion, up 36 per cent from the corresponding period in the previous year. The group’s core markets in India, Bangladesh and Sri Lanka performed well fuelled by the healthy growth in US trade lanes.
The group said Bangladesh in particular showed positive results and a healthy margin growth in comparison to the dissapointing performance during the last two quarters. Far East businesses such as Indonesia and Vietnam continued to maintain the momentum from last two quarters and generate healthy revenue. Cost rationalisation conducted last year in the US, Dubai and Bangladesh have begun to indicate positive results.
Travel & Leisure sector recorded revenue of Rs. 844 million, up 24 per cent from last year. The group’s outbound travel operations recorded postive results, further boosting the healthy growth that the sector continued to show throughtout last year. Expolanka’s inbound business has yet to reach its potential.