Sri Lanka's Expolanka Holdings recently revealed that its consolidated profit after tax (PAT), for the first six months (1H) of its 2011/2012 financial year, was Rs. 668 million, while its profit before tax (PBT) for the same period was Rs. 862 million.
The main portion of this profitability came from its transportation business which contributed a PBT of Rs. 839 million and a PAT of Rs. 690 million.
While its other sectors, international trading, manufacturing and strategic investments, contributed PBT of Rs. 120 million and PAT of Rs. 100 million.
Meanwhile, according to its Group Chief Executive, Hanif Yusoof, the company's freight sub sector, of its transportation unit, had "performed with stablility over the second quarter" despite perceived negativity associated with the global debt crisis. While another sub sector in its transportation unit, the airline General Sales Agents (GSA), "faced challenging months with the economic and political issues that were escalating in the USA, the EU and the ME.
With increased competition in the market place and a drive towards increasing volumes, freight rates took a downward trend.
However all efforts were made to remain competitive in pricing and thereby grow this sub sector."
Also noted; "The freight sector will consolidate its position in the upcoming months while the GSA opts to be more competitive in its pricing and positioning."
At the same time, the company also signalled that it had plans to grow further in the travel segment in addition to tertiary education services, where it said it had made recent investments, and manufacturing, where it just commissioned a facility to incease production of its "Baraka" brand black seed herbal range. |
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