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
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post
Market Place

Add an ad

View all ads

Latest topics

» EAST Steady at 18
by mark Yesterday at 10:57 pm

» Reputation???
by Uaecoindubai Yesterday at 7:12 pm

» INVITATION TO FORUM MODERATORS
by Uaecoindubai Yesterday at 7:12 pm

» Daily Stock Market Update
by Insights Equity Yesterday at 6:47 pm

» INVEST ON AAIC, HASU, UAL.... YOU WILL NEVER WORRY......
by wisdom79 Yesterday at 5:56 pm

» Market will test 4700
by nuwanmja Yesterday at 4:16 pm

» Keep eye on Politics
by Maharaja Yesterday at 1:05 pm

» AIA INSURANCE DE-LISTING (CTCE)
by lokka1 Yesterday at 12:55 pm

» Sri Lanka’s Top 10 Imports
by Gajaya Yesterday at 11:16 am

» Top 10 Small Scale Business ideas & Opportunities in Sri Lanka 2019
by Gajaya Yesterday at 11:15 am

» when bank lending rates put down ?
by nuwanmja Yesterday at 11:01 am

» CSE from Dawn of Peace to Rebirth of Terrorism
by soileconomy Yesterday at 7:52 am

» Pakistan’s trade with Sri Lanka comes to a halt
by Teller Yesterday at 3:26 am

» Sri Lanka’s largest pension fund EPF return to Colombo Stocks
by wisdom79 Tue May 21, 2019 10:46 pm

» Sri Lanka's EPF enters stock market with blood in the streets
by God Father Tue May 21, 2019 8:21 pm

» Sri Lanka caught in the big power conflicts
by God Father Tue May 21, 2019 8:16 pm

» Why AAIC Should trade above RS.50/-
by wisdom79 Tue May 21, 2019 8:04 pm

» Hight Profile Selling at EAST
by Uaecoindubai Tue May 21, 2019 4:43 pm

» A Trader’s Guide to FIX Engine
by Brenda John Tue May 21, 2019 11:24 am

» Reasons for market to crash
by Uaecoindubai Tue May 21, 2019 10:08 am

» ගෙවුම් ශේෂය, වාහන බලපත් හා ඩොලරයේ මිල
by ChooBoy Mon May 20, 2019 5:59 pm

» Terrorism and its Impact on the Sri Lankan Economy
by ChooBoy Mon May 20, 2019 5:41 pm

» Sri Lanka Equity Market Place
by Sstar Mon May 20, 2019 4:36 pm

» Sri Lanka Equity Market Talk
by Sstar Mon May 20, 2019 12:23 pm

» Sri Lanka Equity Market Help
by Sstar Mon May 20, 2019 12:18 pm

» LOFC IN FOR A BIG RUN
by stockback Sun May 19, 2019 5:20 pm

» Look PAP Amazing company
by Uaecoindubai Sun May 19, 2019 5:13 pm

» Sri Lanka Equity Market Place
by Uaecoindubai Sun May 19, 2019 5:13 pm

» CSE NOW AND AFTER ELECTION
by Ahcha Sun May 19, 2019 4:40 pm

» Do not be greedy, rely on small profits Guide to the markets
by Asoka Samarakone Sun May 19, 2019 12:11 pm

» 6 % of EPF funds in stock market
by hammurabi Sat May 18, 2019 3:47 pm

» Weekly Stock Market Roundup
by Insights Equity Sat May 18, 2019 12:54 pm

» EPF Enter Stock Market
by visvajith Sat May 18, 2019 12:20 pm

» UNION BANK (UBC) to be takeover by Union bank of india
by Soilconomy Sat May 18, 2019 8:54 am

» SEC yet to publish its 2017 Annual Report
by ChooBoy Sat May 18, 2019 6:01 am

» 20th MAY IS IT A HOLIDAY FOR CSE?
by Winner123 Fri May 17, 2019 1:33 pm

» East total Hotel deal value US $ 58 Mn there will be another Dividend, Nahil's family is smart
by karuna2 Fri May 17, 2019 6:48 am

» What is going on with TFC.N0000
by Gihan04 Thu May 16, 2019 11:58 pm

» Sri Lanka's Commercial Bank's deposits surpass landmark Rs 1 Trillion in Q1 2019
by hammurabi Thu May 16, 2019 8:05 pm

» LIOC upward curve
by hammurabi Thu May 16, 2019 7:42 pm

» Maithree pala siresenas next winning chance
by Uaecoindubai Thu May 16, 2019 5:10 pm

» RENUKA CAPITAL PLC KZOO.N0000@2.80
by Uaecoindubai Thu May 16, 2019 5:05 pm

» Mahaweli coconut will be listed soon
by Uaecoindubai Thu May 16, 2019 4:57 pm

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]

1Aitken Spence 2Q profit up 50% to Rs. 540 m Empty 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