Expo records best-ever performance in 3QFY2021
View(s):Expolanka Holdings PLC has delivered its strongest ever quarterly financial performance during the three months ended 31st December 2021 (3QFY2021).
Compared with the third quarter of the previous financial year (3QFY2020), Expo delivered a Group Revenue of Rs. 204.9 billion, up sharply by 254 per cent year-on-year (YoY) growth. Similarly, group Gross Profit for the quarter stood at Rs. 38.7 billion, up 299 per cent YoY while Group Profit After Tax (PAT) rose by 405 per cent YoY to Rs. 23 billion, the company said in a statement on Friday.
“This remarkable financial performance, our best-ever to date for a single quarter, is a resounding endorsement of Expolanka’s strategy, agility and sound fundamentals,” Expolanka Holdings PLC Executive Director and Group CEO, Hanif Yusoof said.“The Group’s key consumer market, North America, performed well, while European and Asian markets are also opening up,” he added.
The Logistics Sector’s exceptional performance was the key driver of the Group’s growth during the period. The sector recorded a Revenue of Rs. 203.7 billion, a YoY improvement of 255 per cent YoY, a Gross Profit of Rs. 38.4 billion – an increase of 303 per cent YoY and a Profit After Tax of Rs. 23 billion, reflecting a growth rate of 384 per cent YoY in 3QFY2021.
The statement said the group’s outstanding results were driven by its uniquely customer-centric strategy, which enabled expanded volumes across both air and ocean freight products.
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