Amaya Leisure records net turnover of Rs 831 m

Sanjeevi JAYASURIYA

Amaya Leisure PLC recorded a net turnover of Rs 831 million, a 24 percent growth from last financial year figure of Rs 668 million. However, the company recorded a dip in PAT recording Rs 312 million as against Rs 473 million from last year a negative growth of 34 percent. This was due to a capital gains arising from disposal of Amaya Reef in Hikkaduwa.

Mohan Pandithage

The shareholders fund grew by 35 percent to Rs 2,113 million compared to Rs 1,594 in the last financial year.

Amaya Leisure stands to gain much from these developments. Furthermore, its acquisition by the Heyleys Group, a prominent business conglomerate, in August 2011 is bound to enhance its standing in the leisure industry. The business prowess of Heyleys combined with the brand image that Amaya has built up over the years should stand it in good stead, driving it forward to achieve its highest potential, Amaya Leisure Chairman A.M. Pandithage said.

We were able to make significant gains in terms of both revenue and operational profits in the year under review due to our well planned strategic investments, he said in the Amaya Leisure annual report 2011/12. “At the momentum that we are moving towards the targeted capacity of the hospitality trade, I am confident that Sri Lanka could reach its ultimate goal of bringing in 2.5 million tourists in 2016, a tremendous leap from the present 850,000 tourists arrivals. Simultaneously, it is a must that domestic tourism should continue to be developed at regional level to ensure the sustainability of the industry throughout the island”, he said.

Hotel operators have been able to achieve high levels of turnover and profitability. As a result the industry has become attractive to investors.

This rapid growth in tourism has paved way for both local and international hoteliers to enter the Sri Lankan tourist industry.

The country is gearing up to meet the challenges of the accelerated tourism industry with immense investments in infrastructure development including the construction of highways and expressways which should complement the growing demands of the tourism sector, Pandithage said.