Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» News Behind CTCE.N0000 Running?
by crs Today at 6:08 pm

» රැවටෙන්න එපා ..විකුන්නන එපා ..ණයට ගන්න එපා .BFN - JINS එකතු කරන්නා හෙට දිනනනවා
by prabath Today at 4:43 pm

» JINS - BFN DELAS 100% SURE මතකද . ජනශක්ති GENERAL සමාගම වික්ක හැටි - එක පාරටම
by kalu351 Today at 2:45 pm

» BFN ගනු දෙනුව වෙනවා ..
by kalu351 Today at 2:34 pm

» SRI LANKA @ 2020
by ruwan326 Today at 9:36 am

» Financial Reports Q-3 2018
by ruwan326 Today at 9:26 am

» ##FUN TOONS###
by ruwan326 Today at 9:14 am

» CROSSINGS TODAY
by ruwan326 Today at 9:08 am

» Daily Foreign Transactions
by ruwan326 Today at 9:02 am

» NDB declared ‘Bank of the Year’ by The Banker, UK
by ruwan326 Today at 8:41 am

» NDB wins Banking Sector National Business Excellence Award 2018
by MarketWch Yesterday at 5:33 pm

» Market will RISE expecting a MR Led new government
by samaritan Yesterday at 1:52 pm

» CSE THIS WEEK
by ruwan326 Yesterday at 11:37 am

» Summary of Key Announcements during the week
by ruwan326 Yesterday at 11:25 am

» No worries about BFN Deal .i
by ruwan326 Yesterday at 11:21 am

» CSE WEEKLY
by ruwan326 Yesterday at 11:13 am

» FOREIGN NEWS
by ruwan326 Yesterday at 11:10 am

» Dealing by directors
by ruwan326 Yesterday at 10:55 am

» ALHP WILL MOVE UP from next MONDAY
by aklt Yesterday at 10:47 am

» ඔරියන්ට් ෆ්යිනැන්ස් -විකිනීම ස්තිරයි - අද ද අයිලන්ඩ් පුවත් පත බලන්න 2020 වෙනකම් පුලුවන් නම් තියා ගන්න - අදහා ගන්න බැරි ආදායමක් ලබන්න
by ruwan326 Yesterday at 10:33 am

» @RANFERDI, YAhapalan, In which list are you? Puravesi Lithro List, or Kiriella List or other list
by ranferdi Yesterday at 9:06 am

» #PM Crisis#
by ranferdi Yesterday at 9:05 am

» Stocks don’t go up and stay up because of stories, tips, or people’s opinions
by ruwan326 Yesterday at 9:00 am

» FINANCIAL INSTITUTIONS IMPAIRMENT COST
by Yahapalanaya Sat Dec 08, 2018 11:10 pm

» MONTH PEACE & HAPPINESS
by Ryan Hudson Sat Dec 08, 2018 6:40 pm

» JINS NO DEAL YET - BFN IS ON AND POSITIVE -CHECK THE COMPNAY ANNOUNCEMENT CAREFULLY - NO NOTHING ABOUT BFN
by kalu351 Fri Dec 07, 2018 10:03 pm

» Will ALHP be eliminated from the CSE?
by wisdom79 Fri Dec 07, 2018 8:41 pm

» Is TKYO.N0000 a Sleeping Giant
by aklt Fri Dec 07, 2018 7:52 pm

» FINALY – BFN – TAKE OVER NEWS IS OUT OFFICIALY -DONT SELL BELOW 20 TRY TO BUY AT CURRENT 15-17 LEVELS
by Equity Suda Fri Dec 07, 2018 12:57 pm

» PLAYERS PICK OF THE DAY
by ruwan326 Fri Dec 07, 2018 7:39 am

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Aitken Spence 2Q profit up 50% to Rs. 540 m

Aitken Spence 2Q profit up 50% to Rs. 540 m

Go down  Message [Page 1 of 1]

1 Aitken Spence 2Q profit up 50% to Rs. 540 m on Mon Nov 07, 2016 7:26 am

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Aitken Spence PLC said yesterday it posted Rs. 540 m as profits attributable to equity holders of the company in the second quarter, an increase of 50% year-on-year. 

Pre-tax profits rose by 26% to Rs. 973 m while revenue rose by 70% to Rs. 9.8 b, in the second quarter from last year. Earnings per share for the quarter was Rs. 1.33, an increase of 50% over the corresponding period.

The Company statement said increase in revenue during the quarter from the tourism sector was mainly driven by new additions, Al Falaj hotel (Oman), Turyaa Chennai (India) and the new wing of Turyaa Kalutara. Resumption of operations at the Company’s thermal power plant contributed to the increase in revenue from the Strategic Investments sector, while the new segments in the freight and port management activities contributed to the increase in the Maritime and Logistics sector revenue. The diversified Group’s six months results reflected profits attributable to equity holders of the company at Rs. 789 m and pre-tax profits at 1.45 b. Six-month revenue increased by 50 % to Rs. 17.38 b, while earnings per share for the same period stood at Rs. 1.94.

Operations of the Group’s thermal power plant recommenced in April this year following a lapse of one year, now contributing to a more stable national power generation effort. The Group has made substantial investments over the years to establish a portfolio of thermal, wind, hydro and especially renewable energy production, and expects growth in this area of engagement both in the local and foreign markets. The interest in renewable energy has been worked into the Group’s sustainability initiatives and continues to be a key priority in the envisioned future of the Group involvement in the power sector.

The tourism sector whose lion share is represented by the Group’s chain of resorts spread across four countries faced a challenging quarter. The interest and start-up costs of new hotel projects in Sri Lanka and overseas affected the bottom line of the sector. Closure of a multitude of rooms in a few resorts in the Maldives for refurbishment coupled with lower demand from key source markets negatively affected the returns from the Maldives leisure segment. However, the Company is confident that the Maldives tourism sector would pick up in the short to medium term.

Group’s latest additions to Sri Lanka’s leisure portfolio, Heritance Negombo and RIU Ahungalla were fully operational during the quarter under review. The 500-room RIU hotel in Ahungalla contributed towards the resumption of scheduled charter flights to Sri Lanka from several countries during the winter season of 2016, which will contribute to better results for the rest of the year.

The Maritime and Logistics sector recorded an impressive performance in the quarter with significant increases in the top and bottom lines, strengthened by its maritime services and port management divisions.

An approximate 28% increase in the income tax charge for the Group from Rs. 207 m to Rs. 264 million was recorded for the quarter ending 30 September 2016.

http://www.ft.lk/article/578428/Aitken-Spence-2Q-profit-up-50--to-Rs--540-m

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum