UML records Rs 843 m profit

United Motors Lanka PLC (UML) and its Group Companies posted a pre tax profit of Rs 843 million on a turnover of Rs 7 billion for the nine months ended December 31, 2010.

The group turnover grew by 70.5 percent compared with the same period of the previous year.

The Group recorded a profit after tax of Rs 559 million which is an increase of Rs 619.8 million (1,019 percent) from a post tax loss of Rs 60.8 million for the nine months ended December 31, 2009.

United Motors Lanka PLC has also performed exceptionally well achieving a pre tax profit of Rs 352 million for the end of the third quarter of the current year as compared to Rs 64 million for the same period of the previous year.

The company’s spare parts and workshop divisions have also shown strong growth through its main workshop and strategically located branch network.

The increased awareness among customers of using genuine parts has enhanced demand during the last nine months.