Expolanka Holdings PLC says it sustained its consolidated net post-tax profits (PAT) for the first half of FY 2011/12 at Rs. 668 million with a consolidated net pre-tax profits at Rs. 862 million. These results have been achieved against the backdrop of the many challenges faced by the group in the international trading sector with its global economic downturn, coupled with the regional, economic and political issues that prevailed in the Middle East, the company said.
Group CEO of Expolanka Holdings PLC, Hanif Yusoof said that within the Transportation Sector, the Freight sub sector performed with stability over the second quarter despite the perceived negativity that was prevalent with the debt crisis. “The GSA sub sector faced challenging months with the economic and political issues that were escalating in the USA, the EU and the ME. With increased competition in the market place and a drive towards increasing volumes, freight rates took a downward trend.
However all efforts were made to remain competitive in pricing and thereby grow this sub sector”.
In tandem with growth in the Tourism Sector, the Expolanka Group is undergoing rapid transformation to meet renewed demands. This will facilitate the further growth of its travels segment. Head of Marketing & Corporate Communications Paddy Weerasekera said that the backward integration into agriculture production will help the company to acquire adequate produce at the right time and at a competitive cost, and thereby enhance the sector’s efficiencies.
|
E-mail
