Expolanka Holdings revenue Rs. 235.1b in 1Q2022/23

Expolanka Holdings PLC, Sri Lanka’s leading listed entity with interests in logistics, leisure and Investments, having a global presence in 34 countries and over 70 cities announced their financial performance for the quarter ending 30^th June 2022 presenting strong results maintaining its growth momentum over the last several years.

Backed by strong strategy execution and focus on fundamentals, Expolanka Holdings PLC was able to post a Revenue of Rs. 235.1billion (YoY +146%), a Gross Profit of Rs. 36.9 billion (YoY +156%) and a Profit after tax of Rs. 20.1 billion (YoY +220%) for the quarter.

In a media release, Group CEO, Expolanka Holdings PLC - Hanif Yusoof stated: “Our asset-lite business model, international network, balance sheet strength, our unified approach to business and our strong leadership team makes Expolanka Holdings PLC a unique value proposition to all our stakeholders.”

The group continued to generate strong returns, delivering an ROE of 96.16% on a trailing 12-month basis, reflecting the enhanced operating leverage and the efficient asset utilisation strategies adopted by the group.

The depreciation of the Sri Lankan rupee resulted in an exchange gain of Rs. 6.9 billion whilst increasing the Net Asset Value of the company by Rs. 25 billion for the quarter. This is further evidence of the group’s business profile and its balance sheet which has been built over the last several years.

In spite of the global market conditions and traditional off peak demand patterns, the Logistics sector was able to exhibit the potential of its operations, with focused execution of strategy enabling the sector to deliver consistent growth during the quarter under review, resulting in a revenue of Rs. 233.0 billion (YoY+146%), a gross profit of Rs. 36.2 billion (YoY +154% YoY) and a PAT of Rs. 18.8 billion (YoY +183%). 

Further, Mr. Yusoof stated: “The multi-pronged approach to our business has been centred on generating volumes through customer centric approach, building capacity through sound procurement practices and supporting business through efficient operational excellence.” He further noted that the customer expansion strategy has been well thought out, resulting in the company servicing several leading brands across key industry verticals.