Expolanka attracts foreign funds during Q4
View(s):Expolanka PLC (Expo) has attracted buying from Barca Global Master, its main foreign buyer in the last quarter.
This fund, which bought into Lion Brewery Ceylon Beverage Holdings in 2013, had 6 per cent in Expo in March this year. Matthews Emerging Asia Fund has also increased its stake in Expo during 4Q17.
Expo saw key growth in freight during the last quarter with logistics a steady contributor of 86 per cent (Q3 FY 16-83 per cent) to group revenue.
Air freight was the highest margin contributor to the group profitability, with the North America trade lane saw volume growth momentum accounting for more than 50 per cent in sales.
The company will expand in logistics to Ethiopia as it is the next apparel sourcing country with a number of European companies-among them, H&M, Primark, and Tesco that began sourcing some of their garments from Ethiopia.
Expo, bullish on start-ups aims to do more investments in technology as a key driver of performance. It’s also eyeing the possibilities of roping in start-ups that are related to logistics sector.
The group is on a restructuring process aimed at moving away from a conglomerate to a logistics and leisure driven model.