United Motors Group posts Rs 966 million PAT in 1H

United Motors Group’s net profit after tax for the half year ended September 30, 2011 rose 396% year-on-year to Rs 966 million. This is the highest ever net profit the Group has recorded.

The revenue of the Group rose 147 % from Rs 3.61 billion for the half year ended September 30, 2010 to Rs 8.95 billion for the same period of the current year. The company United Motors Lanka PLC (UML) has also achieved significant growth as revenue increased 119% and net profit rose 458 % from Rs 88 million for the six months ended September 30, 2010 to Rs 484 million in the same period of the current year.

United Motors Chief Executive Officer Chanaka Yatawara said over the last few years UML Group Companies have added on a significant range of vehicles and products to its product portfolio, this strategic move has been valuable as the group is now placed better in terms of risk against policy and taxation changes in any one segment.

The current range includes motor bikes, three wheelers, compact cars, sedans, compact and medium sized SUVs, single and double cabs, vans, lorries, buses, genuine parts, lubricants, workshop facilities and car care products.