Ex­polanka Dec. net up on bet­ter lo­gis­tics per­for­mance

Daily Mirror (Sri Lanka) - - SPORTS -

Ex­polanka Hold­ings PLC re­ported higher earn­ings for the De­cem­ber quar­ter helped by its lo­gis­tics sec­tor per­for­mance de­spite some yield pres­sure faced by the key busi­ness seg­ment, the in­terim re­sults filed with the Colombo Stock Ex­change showed.

The group, which also has in­ter­ests in leisure and some other busi­ness ar­eas, re­ported earn­ings of 17 cents a share or Rs.336.5 mil­lion for the 3Q18, up 23 per­cent year-on-year (YOY)

The group rev­enue rose by 23 per­cent YOY to to Rs.21.1 bil­lion and the di­rect costs rose by 21 per­cent YOY to Rs. 17.3 bil­lion, which re­sulted in a gross profit of Rs.3.78 bil­lion, up 34 per­cent YOY.

Mean­while, for the nine months ended in De­cem­ber 2017, the group re­ported earn­ings of 21 cents or Rs.402.1 mil­lion, down 43 per­cent YOY on rev­enue of Rs.48.3 bil­lion, up 22 per­cent.

The per­for­mance was pre­dom­i­nantly led by the group’s key lo­gis­tics busi­ness, which re­ported rev­enue of Rs.55.2 bil­lion, up 35 per­cent YOY.

How­ever, the profit af­ter tax of the seg­ment de­clined 34 per­cent YOY to Rs.827.9 mil­lion.

“All key trade lanes per­formed to ex­pec­ta­tions dur­ing the quar­ter with in­creased out­bound vol­umes be­ing recorded from the Eas­tasian mar­kets (China, Hong Kong, Philip­pines, In­done­sia & Viet­nam).

Va­sudeva Nanayakkara

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