MTD Walkers net profit soars

177 percent to Rs. 109 m

MTD Walkers PLC, the holding company of the diversified Walkers group of companies, recorded a net profit of Rs. 109 million and revenue of Rs. 1.5 billion for the financial year ending on March 31, 2009, thereby continuing its profit making trend for the second consecutive year. The net asset per share and earnings per share stood at Rs. 57.45 and Rs. 19.09 at the end of the same period. MTD Walkers PLC publicized these figures subsequent to reporting its annual accounts to the Colombo Stock Exchange.

"In comparison to the previous financial year, the company's profits have increased by 177 percent while the revenue growth is nearly 900 percent. The net asset per share and earnings per share too have increased substantially. This could be mainly attributed to the expansion of the company's civil engineering arm in mid 2008, through the acquisition of the renowned civil engineering firm, CML - Edwards Construction Ltd, which is now known as CML - MTD Construction Ltd. The financial results also clearly demonstrate the company's rapid growth under the leadership of a dynamic Sri Lankan management team", said Head of Operations of MTD Walkers PLC, Air Vice Marshall (Retd.) Lal Perera.

"We are glad to have played a major role in the Walkers group's financial success. Our company's operations have changed dramatically during the past year. We have repositioned our business to become a fully integrated general civil works constructor. We have also made considerable investments in transport logistics and streamlining the supply chain", said CEO/Managing Director of CML - MTD Construction Ltd, Dian N. Jayasuriya.

Outlining the company's future plans, Head of Operations of MTD Walkers PLC, Air Vice Marshall (Retd.) Lal Perera said that it plans to play a key role in the country's infrastructure development drive and that it has already commenced discussions with several foreign entities which have indicated an interest to carry out infrastructure development projects in Sri Lanka, in collaboration with MTD Walkers PLC and its associate companies.