Integrated infrastructure and engineering solutions provider MTD Walkers PLC has posted revenue of Rs.3.6 billion for the second quarter of 2016/17.
The group has managed to increase its gross profit margin to 27 percent, up from 20 percent in the second quarter last year, in what continues to be a tough year for the construction industry.
“The results for this quarter have been encouraging and we hope to capitalize on our upcoming projects to further improve our performance in the next quarter,” said MTD Walkers PLC Chief Financial Officer Viraj de Silva.
The increased profitability of the group during the quarter is greatly due to the performance of the real estate sector, which MTD Walkers PLC ventured into recently through its subsidiary Walkers CML Properties (Private) Limited.
“Walkers Piling (Private) Limited has also had a good quarter, as a result of the number of key projects, which had a positive impact on the performance for the quarter,” added de Silva.