Diversified group Aitken Spence posted a pre-tax profit of Rs. 1.5 bn for six months ended 30th September 2015, while reporting a post-tax profit of Rs. 1.15 bn.
The blue chip’s half-year revenue was recorded as Rs. 11.9 bn, results released to the Colombo Stock Exchange revealed. Profit attributable to equity holders was Rs.781 mn for the six months while earnings per share was Rs. 1.92 for the same period.
The conglomerate posted Rs. 773 mn as pre-tax profits and Rs. 567 mn as post-tax profits for the second quarter while recording Rs. 6 bn as revenue. Earnings per share for the quarter stood at Rs. 0.89.
The corresponding results for the previous year included the profits from the operation of the Embilipitiya power plant and insurance proceeds received for the damaged water villas at one of its resorts in the Maldives. If these items were excluded from results of the previous year it would have resultedin a favourable increase in the consolidated profit before tax by 24%.
Aitken Spence PLC is among Sri Lanka’s most dynamic and respected corporate entities with operations in South Asia, the Middle East, Africa and the South Pacific. Listed in the CSE since 1983, it has major interests in hotels, travel, maritime services, logistic solutions and power generation. The group also has a significant presence in plantations, printing, garments, financial services, insurance and information technology.
Tourism sector recorded a pre-tax profit of Rs. 900 mn with revenues of Rs. 5.76 bn for the six months. Maritime and Logistics sector performed well with Rs. 527 mn as profit before tax and Rs. 3.42 bn as revenue for the same period.
The Strategic Investments sector, which includes the power generation segment, recorded loss of Rs. 32 mn with revenue of Rs. 2.3 bn for the first half of the financial year. The Services sector recorded an improved performance with pre-tax profits of Rs. 109 mn, whilst revenue stood at Rs. 426mn, for the six-month period under review.