United Motors sees 162% rise in profit on Mitsubishi sales
View(s):United Motors Group recorded a profit of Rs. 545 million for the quarter ended 30th September 2015 in comparison to Rs. 208 million in the same period last year on the back of Mitsubishi passenger vehicle and truck sales growth contributing towards the overall performance, a company media release said. This is a 162 per cent increase.UML group’s half yearly profit rose to Rs. 896 million which is a 124 per cent increase in comparison to the same period of last year. The company, United Motors Lanka PLC (UML) also achieved growth as revenue increased by 76.7 per cent and net profit rose by 91.4 per cent during the first half of 2015/16 in comparison to the same period last year.
For UML the new Outlander SUV (Gasoline), the Outlander PHEV and the new double cab launched in June 2015 received very good response from the market, according to the release which added that the after sales divisions also showed steady growth due to an increase in after sales services as a result of the increased number of vehicles sold. It said that Valvoline, its lubricant division, too fared well.
“UML’s fully owned subsidiary Unimo Enterprises Ltd (UEL) too has performed well with its latest model Perodua Axia securing orders for the months ahead. The joint venture company TVSL too delivered strong results with their numbers growing significantly compared to the previous year.” The group expects to commence the construction of its new logistics and workshop centre spread over a 10 acre property during the second half of the year. This facility will be able to cater to a larger number of customers who find it out of the way to use the current workshop in Orugodawatte, the release said.