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09 February, 2015 07:39 AM Source: Financial Times - Sri Lanka
expolanka PLC.jpg

Expolanka Holdings Plc has posted a revenue of Rs. 13 billion and a net profit of Rs. 408 million for the third quarter of the financial year 2014/15.
Performance in the quarter has driven the consolidated net profit of the group towards Rs. 760 million for the nine months ended 31December 2014.
In terms of the core business operations of the organisation, Expolanka recorded an underlying profit growth of 24.5% (YOY) during the third quarter excluding the Extraordinary Income related to the restructure activities of the organisation.
Commenting on the results, Expolanka Holdings CEO/Director Hanif Yusoof said: “The key drivers behind the positive shift areour strategic planning, efforts on business growth and focus on operational efficiencies.”
The Group’s core sector Freight and Logistics saw an improvement during the quarter which has driven the sector to record a year to date revenue of Rs. 28 billion and a profit of 716.7 million. The performance during the quarter resulted in a growth of 51% of Profit After Tax compared to the third quarter of last financial year.
From a geographical perspective, the Indian subcontinent performed well during the quarter. The Sri Lankan and Indian entities achieved a profit growth which was a direct result of the business growth achieved particularly on the US trade lane. However the Bangladesh entity continued to be affected by the challenges faced in the local apparel sector of the country.
Indonesian trade continued to maintain the momentum gained in the previous two quarters fuelled by increased volume from Europe and the US.

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