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Expolanka 4Q net up 167% to Rs. 216mn, but full year down 38%

1 June 2015 02:33 am - 0     - {{hitsCtrl.values.hits}}

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The diversified freight and logistics group, Expolanka Holdings PLC posted a net profit of Rs.216. 4 million for the quarter ended March 31, 2014 (4Q’15), up 167 percent from a year ago, the interim results released to the Colombo Stock Exchange showed. 

The Earnings Per Share (EPS) rose to 11 cents from 4 cents. 

The top line grew by 14 percent year-on-year (yoy) to Rs.13.9 billion while the cost of sales grew by 15 percent yoy to Rs. 11.8 billion leaving with a gross profit of Rs.2.2 billion, up 12 percent. 

Meanwhile for the financial year ended March 31, 2015 (FY 2015) the group saw its net profits contracting by as much as 38 percent to Rs.885.8 million. 
This is due to the one off gains recorded in the previous year related to divesting several non-core businesses. 

The EPS dropped to 45 cents from 73 cents last year. 

This is on a revenue of Rs.52.7 billion, down 1.3 percent and a cost of sales of Rs.44.1 million, down 1.6 percent. The gross profit remained virtually flat at Rs.8.5 billion. 

“A year after implementing the strategic restructuring plan and striking a partnership with SG Holdings Japan, we are pleased with the progress and confident about our future.

The solid platform built with the synergy gained from our partnership with SG Holdings Japan and the focused restructuring strategy will result in aggressive growth in the coming years,” Group CEO and Director of Expolanka Holdings PLC Hanif Yusoof said. 
 
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