Financial Times

Tourism, power sectors drive Aitken Spence profits up by 63 percent
The diversified conglomerate Aitken Spence recorded a 63 percent rise to Rs. 715 million for the six months after-tax profits which ended September 30, 2004.

The profits of the group are forecast to be even higher in the full financial year with good prospects in tourism, the company said. Earnings per share for the company rose to Rs 26.47 from 16.26 in the period under review. The main contributors to group profits were the tourism and the power generation sectors.

Notable contributions from cargo logistics and manufacturing sectors were also seen. The Aitken Spence group has recorded a 36 percent rise in tourist arrivals this year compared to a 12 percent rise of tourist arrivals for the whole country.

The conglomerate has once again been included in the Forbes magazine's 100 most successful companies with annual sales of less than one billion US dollars outside the United States. Aitken Spence this year is the only Sri Lankan company to win this recognition.

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