Business Times

Expolanka Holdings reports post-tax profit of Rs. 903 mln in latest review

Expolanka Holdings PLC said its post-tax profits (PAT) rose to Rs 903 million in the nine months to 31 December 2011. The Transportation Sector of the Group managed to sustain its year-to-date bottom-line which contributed PAT of Rs. 932 million. The other three key sectors - International Trading, Manufacturing and Strategic Investments - contributed a PAT of Rs. 159 mllion to the Group, according to a company press release.

Group CEO of Expolanka Holdings PLC, Hanif Yusoof said, “We believe that the company needs to provide total logistics solution to our valued customers. Steps have already been taken to ensure the continued delivery of high quality of service with innovative product offerings. Despite the dip in the freight industry as a whole due to an overall volume reduction, the core freight sector relatively sustained its position where NPAT dropped by 6 %.”

With the country’s tourist arrivals reaching new heights during the calendar year 2011, Expolanka re-positioned its travel and leisure arm to cater to the evolving needs of the tourist industry resulting in a rapid growth in the customer base.

“The Strategic Investment Sector grew by 125% in terms of NPAT growth during the quarter primarily fuelled by the performances of APIIT, our tertiary education institute which has been able to consolidate its operations by offering a wider range of programs.

There is a great response from the market for the increased degree programs which we introduced in the recent times. Expansion is also focused in the diversity of degree programs to cater to the diverse segment of the student community who intend to specialize in different fields of education,” Mr Yusoof said.

The Group said it made additional investments and increased its stake to 51 % in both Expo Freight Pakistan and also in Expo Freight Vietnam. During the quarter it acquired a controlling stake in Norfolk Foods, a strategic move to penetrate into the food industry.

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