United Motors Group’s net profit after tax for the half year ended 30 September 2011 rose 396% year-on-year to Rs 966 million, the highest ever net profit the group said it has recorded.
Group revenue rose 147 % from Rs. 3.61 billion for same period to Rs.8.95 billion for the same period of the current year. The company United Motors Lanka PLC (UML) has also achieved significant growth as revenue increased 119% and net profit rose 458 % from Rs. 88 million to Rs.484 million.
United Motors CEO Chanaka Yatawara said that over the last few years UML Group companies have added on a significant range of vehicles and products to its product portfolio. This strategic move has been valuable as the group is now placed better in terms of risk against policy and taxation changes in any one segment, he said. |
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