Lanka Ashok Leyland declares 400% dividend

12 May 2015 04:02 am - 0 - {{hitsCtrl.values.hits}}

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Lanka Ashok Leyland ended the year with a profit after tax of Rs 331.7 million,
a 102 percent increase from 2013.
The market leader for heavy commercial vehicles in Sri Lanka capped a stellar year with an impressive dividend of Rs. 40 for financial
year 2014.
The dividend declared represents a 700 percent increase over last year’s dividend announcement and reflects the remarkable progress made over the past year.
Commenting on the announcement Gautam, CEO of Lanka Ashok Leyland, noted that “the automotive sector has seen a bit of volatility over the past few years and our company is no exception. Having steered through some of the stormier waters this 700 percent increase in the dividend, despite a 102 percent increase in profit, reflects our sincere appreciation to our shareholders for their unwavering support and trust in us over these years.
“We consider ourselves very fortunate to have excellent stakeholders and partners who have placed their faith in us and this dividend is our way of giving back to those who continue to stand by us. We take great pride in our relationship with our majority stakeholders (41.8 percent Government of Sri Lanka and 27.8 percent Ashok Leyland, India) and we look forward to building on this year’s success.”
Looking ahead,. Gautam outlined an ambitious and exciting expansion plan that he hopes will help taper some of the revenue volatility seen in the commercial vehicle segment over the years. Lanka Ashok Leyland will expand its dealership over the next two years in the South and the East, with the opening of first new location in Embilipitiya which is ready for business. Furthermore, the company is looking to aggressively compete in the light commercial vehicle segment by increasing sales and distribution in key locations in the interior of
the country.
Perhaps the most ambitious of all the plans laid out is the planned infrastructure investment by the company across key roads and Highways Island wide. The company hopes to construct and maintain service stations along the roads to cater to its vehicles.
Gautam elaborated on the expansion plan by adding “that the company is taking a very forward thinking position with such investments. Our sales and distribution will help us reach more rural and geographically distant customers while our infrastructure investment will help lock in and improve our market dominance as the only firm in the industry to offer these facilities to its clients. We believe that our efforts will place us ahead of the competition as the clear choice for commercial vehicles in
Sri Lanka.”

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Lanka Ashok Leyland declares 400% dividend

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